Mumbai: World oil and fuel rigs agency Drillmec SpA, the Italian arm of Megha Engineering & Infrastructures Ltd (Meil), on Monday signed a memorandum of understanding with the Telangana authorities to arrange a producing hub for $200 million (roughly ₹1,500 crore) within the outskirts of Hyderabad.
Drillmec mentioned the worldwide hub will embody a producing facility for oil rigs and ancillary gear, a analysis and growth centre, and a centre of excellence to impart coaching in cutting-edge know-how.
“We’re enthusiastic about future funding within the Hydrogen gasoline venture in India. The Hyderabad manufacturing hub will give attention to rig manufacturing and ancillaries. This facility additionally units up the R&D and coaching centre of excellence,” mentioned Simone Trevisani, CEO Drillmec SpA, including that the corporate already has three manufacturing amenities in Italy, the US (Houston), and Belarus. “After contemplating many gives from numerous nations, we select Telangana, India, because it has a progressive industrial coverage and investor-friendly,” he added.
Drillmec SpA, a world participant, is primarily into design, manufacturing and provide of drilling and workover rigs for onshore and offshore purposes, aside from a variety of spare elements for drilling gear. Drillmec has traditionally delivered near 600 drilling rigs.
Meil had in final April unveiled India’s first indigenously developed hydraulic rigs for the oil and fuel sector the place the superior hydraulic know-how helps in drilling oil wells to a depth of as much as 6 kilometres from the floor.
The corporate had additionally handed over two indigenously made drilling rigs to state-run Oil and Pure Fuel Company Ltd. These rigs have been a part of an order price ₹6,000 crore for 47 rigs, together with 20 workover rigs and 27 land drilling rigs, that MEIL bagged from ONGC in 2019 by a young course of.
MEIL plans to ship 23 oil rigs by March 2022 to ONGC belongings in Assam (Shibsagar, Jorhat), Andhra Pradesh (Rajahmundry), Gujarat (Ahmedabad, Ankleshwar, Mehsana and Cambay), Tripura (Agartala) and Puducherry (Karaikal).
Drillmec SpA and the Telangana authorities’s industries and commerce division have agreed to drift a particular objective automobile for organising an gear manufacturing unit, which might supply employment alternatives for round 2,500 folks.
Supply: Live Mint