Chinese utility giant SGCC sets up office in DIFC

Chinese utility giant SGCC sets up office in DIFC

State Grid Corporation of China (SGCC), the largest utility company in the world, has set up its regional office in Dubai International Financial Centre (DIFC).

The newly established entity will focus on focus on electricity transmission and distribution (T&D) opportunities in the region with investment, construction and operation of power grids as its core business, DIFC said in a press statement.

SGCC has successfully invested in utilities in Oman, Italy, Portugal, Greece and the Philippines, in addition to operating backbone energy networks in Brazil, Australia and Chile.

In December 2019, SGCC had announced that its overseas investment arm State Grid International Development Co., (SGID), had announced the acquisition of a 49 percent stake in Oman Electricity Transmission Company (OETC) from Nama Holding for approximately $1 billion.

(Writing by Anoop Menon [email protected]; editing by Seban Scaria)

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