Mumbai: Power transmission utility Power Grid Corporation is eyeing a 20-per cent stake in Philippines'' National Transmission Company (Transco), estimated to cost $800 million, and is also setting up an office for consultancy services in Dubai.

The company has submitted the expression of interest for picking a stake anywhere from 5-20 per cent in Philippines'' National Transmission Company, R P Singh, chairman and managing director of PGCIL, said.

"We are a strong player in the county. A stake in an overseas company would give us 18 per cent returns per annum, against 14-15 per cent in the country," he said.

Power Grid would open its Dubai office in the next 10-15 days to provide consultancy services in that country and the Middle East region.