PowerGrid Corp in talks with World Bank to secure funding for its Africa foray

Central transmission utility PowerGrid Corp today said it is in talks with World Bank to secure funding for its Africa foray.

On being asked about choosing Africa, Chaturvedi said, "Europe is saturated...Africa is a virgin land."

"Our main foray into Africa will be consultancy and EPC (engineering, procurement and construction) contracts, provided we are given assistance from World Bank and India," CMD PowerGrid Corp S K Chaturvedi told reporters here.

The company would soon be taking up transmission capacity building and total system strengthening in Nigeria.At present, PowerGrid is executing a transmission line in Kabul, Afghanistan and is also doing consultancy work in the war-torn country.The company is providing consultancy services in Dubai, Bangladesh, Bhutan, Nepal, Sri Lanka.For enhancing its presence and exposure in the international market, PowerGrid is looking at opportunities in countries like Saudi Arabia and Oman."We are yet to take up EPC contracts in Central Asia," he added.