Drillmec SpA to set up manufacturing hub in Hyderabad

Drillmec SpA, a subsidiary of Hyderabad based Megha Engineering and Infrastructures Limited (MEIL) group has announced the setting up of its global manufacturing hub in Hyderabad.

Drillmec SpA, an oil-drilling rigs manufacturing company, has proposed to invest over $200 million in the upcoming facility. The hub would include manufacturing, R&D, and a centre of excellence to impart training.

Drillmec entered into a memorandum of understanding with the Telangana department of industries & commerce on Monday for the purpose. Both would together float a Special Purpose Vehicle for setting up the unit.