Drillmec SpA, a subsidiary company of MEIL group, a global multi-sector conglomerate based in Hyderabad, will establish its global manufacturing hub in Hyderabad, Telangana.
Drillmec SpA, a global leader in oil-drilling rigs manufacturing, is proposing to invest over USD 200 million in the upcoming facility to set up the global hub, which would include Manufacturing, Research and Development, and a Centre of Excellence to impart cutting-edge training to people.
Drillmec has entered into a memorandum of understanding (MoU) with the Department of Industries & Commerce, Government of Telangana, to establish Drillmec International Hub for manufacturing oil rigs and ancillary equipment in Telangana.
Simone Trevisani, CEO Drillmec SpA, said, “We are interested in future investment in the Hydrogen fuel project in India. After considering many offers from various countries, we choose Telangana, India, as it has a progressive industrial policy and is investor-friendly. We will ensure that this manufacturing hub creates employment opportunities for about 2,500 people.”
Drillmec SpA is a global leader in the design, manufacturing and supply of drilling and work-over rigs for onshore and offshore applications and a wide range of spare parts for drilling equipment. Drillmec enjoys a worldwide reputation for reliability. Drillmec has delivered close to 600 drilling rigs, developed innovative designs, and acquired global patents.
Speaking on this occasion, Mr K T Ramarao , Minister for Industries, said, “We welcome Drillmec establishes its manufacturing unit in Hyderabad. We will hand over the land and fiscal incentives as soon as possible. We requested Drillmec to bring entire drilling rig ecosystems to Telangana.”
Uma Maheshwar Reddy, CEO, Drillmec International, said, “This MoU is the first step towards creating a global manufacturing hub in Hyderabad. It will meet the demands of the worldwide market. We have already had an order book $1bn.”
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