To be in a position to bid for lucrative contracts in West Asia, estimated at $1 billion (Rs3,940 crore), the state-owned power transmission utility, Power Grid Corp. of India Ltd (PGCIL), is opening an office in Dubai.
“West Asia is our focus area and keeping that in mind we are opening our Dubai office,” said R.P. Singh, chairman and managing director of PGCIL.
“This would help us to bid for contracts in the region as it is mandatory to have a presence there to be eligible to bid for the contracts. To start with, we will bid for the $82 million tender (for a transmission project) in Saudi Arabia,” Singh said.
The company wants to use the Saudi Arabian order to showcase its abilities in the global market.
“We will also be looking at South Africa as it is an unexplored market and offers us huge opportunities,” Singh said. PGCIL is looking to employ the Dubai office as a “beach head” to expand its presence in West Asia and South Africa.