Foreign media: China State Grid acquires 49- shares of Oman power grid
Reference News reported on December 18 that the website of the Financial Times reported on December 16 that China National Grid had agreed to acquire 49% of the shares of Oman State Grid Corporation, a subsidiary of Oman state-owned power holding group.
China's largest one belt, one road ahead China's Middle East, will boost China's "one way ahead" initiative, which aims to build and invest in Eurasian infrastructure and extend to Europe's periphery, the State Grid said in a statement 16.
According to reports, the Beijing based power supplier did not provide any financial details, but people familiar with the matter said that the company would pay about US $1 billion (US $1, about 7 yuan) to buy shares in Oman State Grid Corporation.
According to the report, according to the data of rover, in 2016, state grid made seven global acquisitions, with a total expenditure of US $8.4 billion. This year, State Grid agreed to buy a controlling stake in CPFL energy, Brazil's largest power distribution company, and a substantial stake in the Greek grid operator. The company also currently operates networks in Italy, Portugal and Australia.
However, since 2017, many Chinese companies have slowed down the pace of overseas acquisitions.
In the past 10 years, Chinese companies have invested only $50 million in Oman, according to Luft.
China's one belt, one road initiative, will be traded with Oman, the State Grid will report. Under this plan, Chinese enterprises have built much-needed bridges and ports in many developing countries.
The "one belt, one road" initiative includes a number of agreements with the Middle East countries, including a total investment of 10 billion US dollars jointly launched by the Kuwait government. Iraq announced in September that it would join the initiative.
Source: Reference News Network