Hyderabad:Italian oil and gas rigs manufacturer Drillmec SpA, a subsidiary of Hyderabad-based conglomerate Megha Engineering & Infrastructures Ltd (MEIL), will be investing $200 million (approx. Rs 1,500 crore) in setting up a global manufacturing hub on the outskirts of Hyderabad.
As part of the new hub, Drillmec will be setting up a manufacturing facility for automated oil rigs and ancillary equipment, an R&D centre as well as a centre of excellence for imparting training in cutting-edge technology in the sector. Drillmec’s investment is expected to create about 2,500 direct jobs.
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