China State Grid Corp announced it had been chosen by the Brazilian government to build over 967 kilometres of power transmission lines and substations that will distribute electricity from Belo Monte, in the north eastern state of Pará, to the southern and south eastern Brazilian states.
The winning consortium is made up of State Grid (51 percent), Copel (24.5 percent) and Furnas (24.5 percent).
The project is estimated to cost 910 million reals (US$438 million) and to provide annual revenues of 100.2 million reals when the system starts operating.
In May State Grid announced it had acquired seven Spanish Brazilian power distribution companies from Spanish company for1.86 billion reals.
The chairman of the board of State Grid, Cai Hongxiao announced at the beginning of 2012 that the group planned to invest US$55 billion in Brazil. (macauhub)