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Container Gateway + Diamond Cables – Commnce Operations

December 3, 2007

Gateway Distriparks has announced that the company’s subsidiary, Gateway Rail Freight (GRFL) has signed an agreement with Container Corporation of India (CONCOR) in March 2007 to form a joint venture company and operate the rail-linked inland container depot (ICD) at Garhi Harsaru, Gurgaon.

The parties to the above agreement reached closure of the terms of the agreement and the joint venture company, Container Gateway (CGL) has become operational with effect from 01 December 2007. GatewayRail and CONCOR have shareholding in the ratio of 51:49 respectively in Container Gateway.

Diamond Cables has invested in the financial & managerial restructuring of India’s one of the leading power and distribution transformer manufacturer, Apex Electricals in June 2007.
Apex Electricals Ltd. established in 1967, was India’s Leading Power Transformer manufacturer operating with collaboration with ELIN of Austria and manufactured power transformer upto 315 MVA, 220 KV class.

The company has informed that, pursuant to investment and management restructuring from Diamond Power Infrastructure and Financial Investment from Clearwater Capital Partners India, the power transformer manufacturing facilities at Vadodara was totally rewamped to bring to its world class manufacturing facility.

Further, the company pleased to announce the operations of the power transformer facility with 7500 MVA have commenced operations with effect from 03 December 2007 at 10.00 hrs.

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