Sterlite to invest $1 billion annually in Brazil power lines - source

SAO PAULO (Reuters) - India's largest power transmission company Sterlite Power Grid Ventures Ltd will invest around $1 billion per year in the next few years to build power lines in Brazil, a source with direct knowledge of the plan told Reuters on Wednesday.

The source, who asked not to be named because he is not authorized to speak publicly about the plan, said Sterlite is looking to build a large portfolio of power transmission projects in Brazil as part of a long-term strategy in the country. Sterlite is also a major manufacturer of equipment for the electricity industry.

(Reporting by Luciano Costa; Writing by Marcelo Teixeira; Editing by Phil Berlowitz)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)