Toshiba has announced that it will soon make a joint bid with Abu Dhabi National Energy Company (Taqa) for Areva's power transmission as well as distribution business.

Sources informed that the unit will involve an investment of more than ¥500 billion (about Dh 20.18 billion).

Sources added that Areva has selected Japan-based Toshiba, General Electric as well as French cooperators Alstom and Schneider Electric as possible buyers.

Toshiba, is in the final stages of negotiations with Taqa to make a joint bid.