Drillmec, a subsidiary of the city-based Megha Engineering and Infrastructures (MEIL) Group, will be setting up its global manufacturing hub in Telangana with an investment outlay of USD 200 million.
The government of Telangana signed a memorandum of understanding (MoU) for setting up the international hub a few days ago. The global hub will house a manufacturing facility, research and development centre, and a Centre of Excellence (CoE).
The first rig from the new manufacturing facility is expected to roll out in the next nine months. Further, it is expected to create employment opportunities for around 2,500 people.
Presently, Drillmec has manufacturing and assembling facilities in Italy, Belarus and USA.