MEIL’s Drillmec to set up $200 mn oil rig manufacturing hub in Telangana
Drillmec SpA, a subsidiary of the city-based Megha Engineering and Infrastructures Limited (MEIL) group, will be setting up its global manufacturing hub in Telangana with an investment outlay of USD 200 million, a top executive of the Italian company said on Monday.
Simone Trevisani, CEO, Drillmec and Jayesh Ranjan, Principal Secretary (Industries), Telangana government signed a MoU for the establishment of Drillmec International Hub for manufacturing oil rigs and ancillary equipment in the state.
“Drillmec SpA, a global leader in oil-drilling rigs manufacturing, is proposing to invest over USD 200 million in the upcoming facility for the setting up of the global hub, which would include manufacturing, research and development, and a Centre of Excellence to impart cutting-edge training to people, Trevisani said.
