State Grid Corp. of China is thinking about investing in Brazilian state-owned generator of electricity Eletrobras SA, which is due to be privatised, Reuters reports.

The news agency quotes State Grid Brazil Chief Executive Chang Zhongjiao as saying on Thursday of the possibility: “If it is in accordance to our expansion plan, why not?”

Eletrobras is among the state-owned assets the Brazilian government is selling to raise money.

State Grid will keep on investing in Brazil, making a bid, for example, for electricity transmission lines due to be auctioned in December, Reuters quotes Mr Chang as saying.

The Chinese government-run news agency, Xinhua, reported earlier this year that State Grid had already invested over US$12.4 billion in Brazil, as part of a plan to invest 140 billion reais (US$30.2 billion) in the South American country in the next five years.