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Another International Company To The City
On Monday, an MoU was signed between the government and Drillmec and will set up a global oil rig manufacturing hub in Hyderabad with US $200 M.
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Nishanth Kumar
Hyderabad
Mon Jan 31 2022
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Another international company, Drillmec SpA is going to set shop in Hyderabad. On Monday, an MoU was signed between the government and Drillmec. Drillmec SpA, an internationally recognized company in the field of oil rig manufacturing, will set up a global oil rig manufacturing hub in Hyderabad with an investment of US $ 200 million.


Drillmec SpA is the Italian arm of Megha Engineering & Infrastructures Limited. A copy of the MoU was handed over to the company's CEO by Minister of Industry and IT, K Taraka Ramarao. The government says the company will create 2,500 new jobs with an investment of 200 Million Dollars."Drillmec SpA, Global oil-drilling rig manufacturing giant has decided to set up its manufacturing plant in #Telangana Formal MoU to be signed today.


Will be investing $200 MN (₹1,500 Crore) & providing employment to 2500 people," KTR tweeted on this occasion. The Hyderabad hub will include a manufacturing facility for oil rigs and ancillary equipment, research, and development center, and a center of excellence to impart training in cutting-edge technology.


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Another International Company To The City
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