Earlier this year, Brazil invited bids for power transmission projects that would cumulatively attract investments of USD 4 billion.
November 22, 2017
Indian power transmission companies including the state-run Power Grid Corporation of India and private sector firms Sterlite Power and Adani Transmission, along with engineering players such as KEC International are vying for orders from Brazil to make up for the slack business in the domestic market.
Earlier this year, Brazil invited bids for power transmission projects that would cumulatively attract investments of USD 4 billion. The next round of tenders, scheduled for December, is expected to be as big, if not bigger.
The state-run company is looking at expanding its business overseas from only consultancy jobs to turnkey projects, and is keen to win projects in Brazil under the build-own-operate-transfer (BOOT) model.
RPG Group’s engineering company, KEC International, plans to tap into the opportunity in Brazil by entering pre-bid pacts with international developers. The company already has a presence in Brazil through its acquired subsidiary, SAE Towers.
Sterlite Power bagged two orders in Brazil earlier this year, becoming the first Indian company to do so in the South American country. The company will bid for the next round, albeit with caution, said CEO Pratik Agarwal.
Adani Transmission and Essel Infrastructure have also set up teams in Brazil to explore bidding for projects there and are likely to participate in the next round, people familiar with the matter said.
