China's State Grid wins stake in Aussie grid
Updated: 2012-11-29 17:29
(Xinhua)
|
|||||||||
BEIJING - The State Grid Corporation of China has won a bid for a stake in ElectraNet, South Australia's sole power transmission network.
China's biggest power transmission company bid successfully for the stake held by Powerlink, a Queensland public-sector electricity transmission firm.
The deal will be completed by the end of the year, the corporation said.
The grid giant declined to disclose the value of the deal, but media reports said it gives the company around a 40-percent stake in ElectraNet, which was privatized in 2000.
It marks the debut of Chinese companies in Australia's power transmission network.
The move follows a number of other similar overseas deals made by the SGCC in the Philippines, Brazil and Portugal in recent years.
The SGCC will bring technology and management skills to ElectraNet, and seek stable cooperation with its Australian partners to enhance operations and benefit the local economy, the corporation said.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |