Philippines Eyes Stake in Power Grid Operator

The Maharlika Investment Corp, a sovereign wealth fund of the Philippines, has expressed interest in acquiring the stake held by China's State Grid Corp in the National Grid Corp of the Philippines. The fund has not yet engaged with the Chinese company but is keen on the opportunity.

The Maharlika Investment Corp, representing the Philippines' sovereign wealth fund, has shown interest in the potential acquisition of a stake owned by China's State Grid Corp in the operator of the country's power grid. This revelation was made by Rafael Consing Jr, the president and CEO of Maharlika Investment Corp, during a press conference on Tuesday.

Consing clarified that the fund has not yet initiated discussions with the Chinese firm, but emphasized their keen interest should the opportunity arise. This move aligns with the wealth fund's recent decision to invest in the National Grid Corp of the Philippines (NGCP).

China's State Grid Corp currently holds a significant 40% stake in NGCP, which has been operating the nation's sole power transmission network under a 25-year concession since securing the contract in 2007. The potential acquisition underscores the fund's strategic interest in bolstering national infrastructure.

(With inputs from agencies.)