Ahmedabad-based Mamta Energy Pvt. Ltd. plans to foray into specialised mineral drilling rig business.
Once commissioned, the plant will be the first in the country to be producing rigs facilitating assaying of minerals, claim company officials.
Mahendra Patel, chairman of Mamta Group, says while the country has offshore, wet oil and water drilling rig manufacturing plants, there is virtually no player in the mineral drilling rig segment where the group intends to make its foray.
“Mineral drilling rigs help save a lot of cost of exploration and are very accurate. At an average width of 8 inch, the rigs help extract core of earth as solid bars which are then sent for assaying minerals through customised softwares,” said Patel.
The company plans to invest around Rs 50 crore to manufacture 8 inch wide rigs that can drill as deep as 1.8 kms. Patel added that the company will be targeting domestic as well as international mining firms for the rigs.
“Unlike the satellite surveillance which gives less than accurate information about minerals in a particular area, these rigs will help firms in seeking accurate information on availability of minerals and avoid unnecessary drilling. Even stringent environmental norms have driven for need of such drilling rigs,” he said.
Mamta Energy Pvt. Ltd. will be funding the investment for the new plant through internal accruals.