Manzini Businessman buys E6 million rig

MBABANE - A Manzi-ni-based businessman bought a drilling rig worth E6 million.

The move comes at a time when there have been many complaints from residents of drought stricken areas over the long queues of over 600 people waiting to acquire the services of a drilling rig from government.

Purell Drilling Company’s Managing Director Royet Ntshalintshali got finance from a local financial institution, which deals with funding business projects, which he, however, preferred not to mention at this stage.
Ntshalintshali’s company deals with geophysical surveying, sitting of boreholes, borehole drilling and borehole pump installations.

It has been operating since 2001.
The rig that was bought in South Africa arrived in the country on Friday and is currently being registered. Soon after the registration process has been finalised, it is expected to begin work.
Ntshalintshali said in the past, they rented a drilling rig from South Africa but because it was not always available as other companies normally booked it, they saw it proper that they raise money to buy their own.

“Our drilling operations were at the mercy of the availability of the rig from South Africa. The lack of a permanent rig and the breakdown of the rented one inhibited the company growth. It was also expensive to rent the rig,” he said.
He said the new rig would ensure that the company becomes more competitive in the market.
“It will now be easy for us as we will be in a position to meet the clients’ demand. It will also be cheaper to use the drill as it will be obtained locally,” he said.
Government was also recently reported to be in the process of buying another rig.

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: