Diamond Power Infrastructure said it has entered into a preliminary pact to acquire a strategic stake in Orissabased Utkal Galavanisers.

“The acquisition will further augment Diamond Power’s leadership position in the equipment space for power transmission and distribution,” Diamond Power’s Chairman Suresh Bhatnagar said.

Diamond Power is an integrated player in the power equipment business and is also engaged in engineering, procurement and construction (EPC) activities in the sector. The company’s order book stands at Rs 1,650 crore as on March 31, 2011.

Diamond Power recently received two orders to supply conductors from Power Grid Corporation and Gayatri Projects. Utkal Galvanizers is associated with the power sector for Extra High Voltage Power Transmission. Utkal Galvanizers is an approved vendor and an EPC contractor of Power Grid Corporation of India Ltd for various transmission products.