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Monday, September, 26, 2022

Press Release

Drillmec SpA Signed MoU with Dept of Industries & Commerce, Govt of Telangana
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HYDERABAD, India, Jan. 31, 2022 /PRNewswire/ — Drillmec SpA, a subsidiary company of Megha Engineering & Infrastructures Limited (MEIL) group, a global multisector conglomerate based in Hyderabad, will be establishhing 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 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.

Drillmec has entered into a memorandum of understanding (MoU) with the Department of Industries & Commerce, Government of Telangana, for the establishment of 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. The Hyderabad manufacturing hub will focus on rig manufacturing and ancillaries. This facility also sets up the R&D and training centre of excellence. We have already 3 manufacturing facilities in Italy, USA (Houston), and Belarus. After considering many offers from various countries, we choose Telangana, India, as it has a progressive industrial policy and investor-friendly. We will ensure that this manufacturing hub creates an employment opportunities for about 2,500 people.”

Drillmec SpA is a global leader in design, manufacturing and supply of drilling and workover rigs for onshore and offshore applications as well as a wide range of spare parts for drilling equipment. Drillmec enjoys a worldwide reputation of reliability. It is a reflection of extensive engineering development, timely deliveries and effective after-sale service.

Drillmec has historically delivered close to 600 drilling rigs. It has developed many innovative designs and acquired patents globally. The company, which was incorporated under the laws of Italy having its registered office at Podenzano PC, Italy, was acquired by MEIL group in 2020.

Drillmec SpA and Department of Industries & Commerce, Government of Telangana, will float a Special Purpose Vehicle (SPV) for the setting up of an equipment manufacturing unit.

Speaking on this occasion, Mr K T Ramarao said, ” We feel proud and welcome Drillmec establishes its manufacturing unit in Hyderabad. The State government is committed to making the most industrial progressive state in India. We will hand over the land and fiscal incentives as soon as possible. We are happy to get employment opportunities for the younger generation in the state. We requested Drillmec to bring entire drilling rig ecosystems to Telangana.”

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Uma Maheshwar Reddy, CEO, Drillmec International, said, “This MoU is the first step towards creating a global manufacturing hub in Hyderabad. It will definitely meet the demands of the worldwide market. We have already had an order book $1bn.”

Mr. Simone Trevisani, CEO, Drillmec SpA and Mr. Jayesh Ranjan, IAS, Principal Secretary to Govt, Industries, & Commissioner of Industrial Promotion, signed the MoU.

About Drillmec:

Drillmec is a leading OEM (original equipment manufacturer) for land-based drilling rigs. Its onshore rig portfolio consists of drilling rigs in the hook load range of 60 metric tons (66 short tons) to 907 metric tons (999 short tons), including conventional drilling rigs, either swing lift or slingshot, mobile rigs, automatic hydraulic rigs, the HH series and unconventional play rigs such as the STRIKER-800®. Drillmec land-based drilling rigs are designed to work in harsh climatic conditions and environments and capable of handling the most challenging client drilling programs.

Logo: https://mma.prnewswire.com/media/958718/MEIL_Logo.jpg Photo: https://mma.prnewswire.com/media/1736813/Drillmec_MoU.jpg

Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.

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