An Australia-led consortium of investment funds from Canada and the Middle East yesterday won the bid for electricity transmission network TransGrid, beating a Chinese challenger in a deal worth A$10 billion (US$7.28 billion).
China’s State Grid Corp (國家電網) was considered a frontrunner but the New South Wales (NSW) State Government said the strongest ,bid belonged to the locally led NSW Electricity Networks consortium.
“The transaction will deliver gross proceeds of A$10.258 billion which will help fund a raft of infrastructure projects across the state,” New South Wales Premier Mike Baird said in a statement. For the full article click here
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