“In the recently concluded auction for transmission projects in Brazil, Sterlite Power emerged as the largest winner, clinching 6 lots at an investment of roughly $1 billion, securing about 65% of the capex under auction,” the company said in its statement. The company emerges as the first Indian company to invest close to $2 billion in Brazilian power transmission sector, the statement added.
Pratik Agarwal, group chief executive officer (CEO) for Sterlite Power said the company plans to invest close to $4 billion in this region. "Brazil requires an incremental 61,800 km in transmission lines, this makes the market very attractive to us and we have already committed $1.7 billion of the planned $4 billion in the region. We intend to develop global partnerships to execute our global portfolio of projects," Agarwal said.
No comments:
Post a Comment