JSE-listed Master Drilling has entered into a joint venture (JV) with Italian construction company Ghella, to establish a new Italy-based company called TunnelPro.
TunnelPro will pursue tunnel boring projects in the smaller scope civil construction and broader mining industries, while also offering select product supply and professional services to industry third parties.
Master Drilling CEO Danie Pretorius commented in a statement on Monday that the JV is aligned with Master Drilling’s strategy of pursuing a wider, more diversified footprint. Through TunnelPro, Master Drilling will access projects in new sectors and across various countries, while providing a platform for further vertical integration and risk mitigation.
Through the JV, Master Drilling and Ghella have acquired the business and trademarks of SELI Technology – an Italian company that designs and manufactures tunnel boring machines and offers project support through professional services for the civil construction industry.
“The acquisition of SELI also gives us access to critical intellectual property and a deeper pool of skills, from engineers to experienced tunnelling personnel,” said Master Drilling tunnelling strategy executive Koos Jordaan.
Through TunnelPro, Ghella will be able to access mining sector projects in which Master Drilling is well entrenched, while Master Drilling will further diversify its activities into the smaller civil and construction sectors requiring tunnel boring . . .”
Founded in Italy in 1894, Ghella has a rich history, with unique skills and experience in underground works and is renowned worldwide for its experience and know-how in the use of tunnel boring machines.
The company is involved in the construction of many infrastructure projects such as subways, railways, motorways, and water and hydraulic works around the world.
Master Drilling is a South African company founded in 1986, which exploits technology to deliver disruptive, customised, safe and blast-free drilling solutions to its clients.
The JV will be owned 51% by Ghella and 49% by Master Drilling.