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Telangana will continue its efforts for fast industrialization; Says KTR

Telangana will continue its efforts for fast industrialization; Says KTR

He demanded the Central government to give special industrial subsidies to both Telangana and Andhra Pradesh; he questioned how development was possible if the states were not funded.

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Hyderabad: Minister for Municipal Administration and Urban Development, IT and Industries, K. Tarak Rama Rao said that the State of Telangana will continue its efforts for fast industrialization inspite of BJP led Central government at the Center showing step moth attitude towards the State for the political reason.

He demanded the Central government to give special industrial subsidies to both Telangana and Andhra Pradesh; he questioned how development was possible if the states were not funded.

He said there was no help or cooperation from the Center for seven and a half years and also demanded that the separation guarantees be implemented in the budget this time which is going to be presented in Parliament on February 1 and that priority be given to industries in Telangana.

Speaking on the occasion of Drillmec Spa, entered into a memorandum of understanding with the Telangana government, in the presence of its Chief Executive Officer Simone Trevisani, Telangana industries Minister K.Tarak Rama Rao and Industries Secretary Jayesh Ranjan, today morning, Tarak Rama Rao said that Telangana is one of the 4th largest states in the country.

He said if the center cooperates, thousands of people will get job opportunities.  Telugu states need central cooperation; he announced that they would fight with the Center for their rights and demands. 

He said Global Oil and Gas Rigs firm Drillmec Spa, the Italian arm of Megha Engineering & Infrastructures Ltd (Meil) is setting up a manufacturing hub at a cost of 200 million dollars (approximately Rs. 1,500 crore) in the outskirts of Hyderabad and assured to provide necessary land and other benefits as per the policy of the State government 

Simone Trevisani said that the global hub will include a manufacturing facility for oil rigs and ancillary equipment, a research and development center and a center of excellence to impart training in cutting-edge technology.

Drillmec Spa, which had developed many innovative designs and acquired several patents globally, is primarily into design, manufacturing and supply of drilling and workover rigs for onshore and offshore applications, apart from a wide range of spare parts for drilling equipment. 

Drillmec Spa drilling rigs are designed to work in harsh climatic conditions and environments and are capable of handling the most challenging client drilling programmes.

The indigenous development and manufacturing of drilling rigs would help India increase domestic oil production and reduce the oil import burden, thereby helping the domestic economy. as this is used in the sectors such as defense, hydrocarbons, power, aviation, EV buses, irrigation and drinking water.

The Telangana government’s Industries and Commerce department and Drillmec Spa have agreed to float a special purpose vehicle for setting up an equipment manufacturing unit, which could offer employment opportunities for around 2,500 people. 

The company views that the indigenous development and manufacturing of drilling rigs would help India increase domestic oil production and reduce the oil import burden, thereby helping the domestic economy.