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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.
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(END) Dow Jones Newswires
January 23, 2020 04:26 ET (09:26 GMT)
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