May 30, 2018 / 9:10 PM / 3 months ago

China’s State Grid to invest $38 bln in Brazil over 5 years

SAO PAULO, May 30 (Reuters) - Power company China State Grid Corp Ltd will invest 140 billion reais ($38 billion) in Brazil over the next five years, including investments in transmission, generation and other segments, an executive said on Wednesday.

Investment in the transmission segment alone will total more than 90 billion reais, said Qu Yang, vice president of State Grid’s Brazilian unit, speaking in Chinese at a conference in Sao Paulo.

$1 = 3.7240 reais Reporting by Jake Spring; Editing by Lisa Shumaker

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