China’s State Grid plans to invest extra $39 billion in Brazil, says ministry

SAO PAULO, April 3 (Reuters) – Chinese power giant State Grid has presented to Brazil’s government plans to invest an additional 200 billion reais ($39.4 billion) in the South American country, the Brazilian mines and energy ministry said on Wednesday.

State Grid in December emerged as the big winner in Brazil’s largest-ever electricity transmission line auction, snapping up the largest batch of projects up for grabs that will require an estimated 18.1 billion reais in investments.

Brazil’s government did not provide further details about the firm’s investment plan.

($1 = 5.0813 reais) (Reporting by Andre Romani; editing by Gabriel Araujo)

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