Engie Wins 30-Year Concession Project in Brazil

Date : 01/23/2020 @ 9:41AM
Source : Dow Jones News
Stock : Engie (ENGI)
Quote : 8.894  -0.082 (-0.91%) @ 4:40PM

Engie Wins 30-Year Concession Project in Brazil

Engie (EU:ENGI)
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   By Giulia Petroni 
 

Engie S.A. (ENGI.FR) said Thursday that it won a 30-year concession project in Brazil.

The French utility said the greenfield project includes the construction, operation and maintenance of a 1,800-kilometer electric power transmission line, a new substation and the expansion of three existing substation in northern Brazil.

The total investment cost is expected to be 750 million euros ($831.3 million), Engie said. Construction is scheduled to start this year.

"We are accelerating the delivery of our strategy in Latin America where there is a strong need for new infrastructure to meet increasing energy demand" said Chief Executive Isabelle Kocher.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

January 23, 2020 04:26 ET (09:26 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.


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