China's State Grid wins bid in Brazil

BEIJING - The State Grid Corporation of China has won a bid for a power transmission project in Brazil, the company announced Wednesday via a statement on its website.

The SGCC, China's biggest power transmission company, together with Brazil's Copel and Furnas, made a successful bid for the G section of the No 007/2012 power transmission project concession with an allowed first year operational income of 100 million Brazilian real ($49.57 million), according to the statement.

The three companies plan to invest a total of 910 million BRL, or 2.83 billion yuan ($450 million), in the project.

The project involves a 967-kilometer, 500-kv transmission line and expansion programs for four 500 kv transformer substations.

Upon the project's completion, the SGCC will operate a total of 9,931 km of transmission lines in Brazil.