Sterlite Power bags $800 mn transmission project in Brazil

Sterlite Power today said it has bagged a contract worth USD 800 million to construct 1800 km transmission project in Brazil.

The project will be executed in north of Brazil, in the states of Pará and Tocantins, with more than 1800 km of transmission lines, the company said in a statement.

"Sterlite has demonstrated its international competitiveness by winning the largest lot on offer in the auction. We are committed to building a global transmission company by focusing on talent, technology and innovation," company's Chairman Pravin Agarwal said.

The project will be part of the North-Southeast and North-Northeast inter-connections.

"It is critical for the power evacuation from Belo Monte Hydroelectric Power Plant, the third largest hydropower plant in the world," Agarwal said.

With this project, Sterlite, which had won two projects earlier in April this year, consolidates its presence in Brazil reaching a total of USD One billion of investment, the largest ever done by an Indian company in Latin America.

In order to lead the existing projects and create a sustainable growth in the Brazilian energy market, the company is also setting up a local team, he added.