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Sterlite Power wins third project worth $800 mn in Brazil, beats Power Grid

Sterlite's investment in Brazil has crossed over a $1 billion, the largest ever by an Indian company in Latin America

Shreya Jai  |  New Delhi 

Pratik Agarwal
Sterlite Power CEO Pratik Agarwal

Marking its presence overseas, won one of the largest power transmission projects in worth $800 million. This is the third project that the company has won in the country. bid out 1,800-kilometres transmission project through a reverse auction tender.

Among other players in the fray were global majors such as State Grid of China, Engie Elecnor and Indian state-owned Sterlite's bid had a discount of 35.72 per cent over the proposed maximum annual revenue and was one of the lowest discounts of the auction, which had an average discount of 40.46 per cent, said the company in a public statement. It further said the project will be executed in the north of Brazil, in Pará and Tocantins, with more than 1,800 km of transmission lines. “The project will be part of the North-Southeast and North-Northeast interconnections. It is critical for the power evacuation from Belo Monte Hydroelectric Power Plant, the third-largest hydropower plant in the world. The transmission project will increase the reliability of the system in the northern region of and has the potential to create more than 5,500 direct jobs, according to the (ANEEL),” said With this third project, Sterlite’s investment in has crossed over a $1 billion, the largest ever by an Indian company in The company has set up a local team with a couple of advisors such as Charles Putz, partner of and former chief financial officer of Telefónica and CSN, and José Luiz Alquerez, former chief executive officer and chairman of

First Published: Tue, December 19 2017. 00:49 IST