State Grid to bid for Australian firm

Utility partners Macquarie in consortium, among 4 bidders for TransGrid of NSW

A consortium that includes State Grid Corp of China is among the approved final bidders for a $6 billion electricity network in New South Wales, Australia's most populous state, despite growing concern Down Under over sales of strategic assets to foreign companies.

All four bidders for TransGrid, the owner and operator of the state's high-voltage electricity transmission lines, have received approval from the country's Foreign Investment Review Board, according to local media reports.