Telangana: Drillmec To Set Up $200 Million Worth Oil Rigs Hub In Hyderabad
Minister KTR participated in the Drillmec SpA event held on Monday at the ITC Kakatiya Hotel in Green Lands, Hyderabad.
Hyderabad: A global oil and gas rigs firm, Drillmec SpA, the Italian arm of Megha Engineering & Infrastructure Ltd (Meil), will set up an oil rigs hub on the outskirts of Hyderabad in Telangana.
Telangana Minister KT Rama Rao on Monday has announced the news on his Twitter and later he has also taken part in an event held by Drillmec SpA at the ITC Kakatiya Hotel in Hyderabad. Approximately 2,500 people will be employed as a result of this.
Let’s start this week with a piece of good news
Drillmec SpA, Global oil-drilling rig manufacturing giant has decided to setup its manufacturing plant in #Telangana Formal MoU to be signed today 👍
Will be investing $200 MN (₹1,500) & providing employment to 2500 people — KTR (@KTRTRS) January 31, 2022
Manufacturing, research and development facilities, as well as a Center of Excellence for training employees, will be available at the global centre. Drillmec, a subsidiary of the Megha Engineering & Infrastructures Limited (MEIL) Group, a global multi-sector conglomerate, has signed an agreement with the State's Department of Industries to establish a Drillmec International Hub in Telangana to manufacture oil rigs and ancillary equipment.
Minister KTR said, "We are pleased to welcome Drillmec, which will open a manufacturing facility near Hyderabad. Telangana is a landlocked state, hence the corporation does not have a captive customer. Despite the fact that there were other possibilities, the corporation chose Telangana. It represents the progressive policies that the state is implementing. The state will assist the enterprise by providing the necessary land as well as monetary incentives."
KTR said that the central government should co-operate for the rights and demands of the state. He warned that they would fight with the Central government if any injustice was done in the Union budget 2022-23. He said the state had not received any assistance from the central government in the last seven and a half years.
He asked to prioritise the establishment of industries in the state of Telangana. The Minister demanded that special industrial subsidies be given to Andhra Pradesh and Telangana.
He questioned how development was possible if the central government did not fund the states. He reminded that the financial assistance due from the Center to Telangana Kakatiya, Mega Textile Park and Pharma City has not yet arrived.
He said if the centre cooperates, thousands of unemployed people will get job opportunities.
The Govt. of Telangana and Drillmec SpA entered into an MoU for the establishment of Drillmec International Hub for manufacturing oil rigs and ancillary equipment in Telangana. The MoU was signed in the presence of Minister @KTRTRS today. pic.twitter.com/qeI0ramqTI
— Minister for IT, Industries, MA & UD, Telangana (@MinisterKTR) January 31, 2022
Drillmec SpA, #Italy, has chosen #Telangana among many many invitations to set up its global hub, says CEO of the Company Mr Simone Trevisani, CEO, #Drillmec#DrillmecMfgHub#MEIL pic.twitter.com/hBo7MKLhFU
— Megha Engineering and Infrastructures Ltd (@MEIL_Group) January 31, 2022
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