The new chairman-cum-managing director of National Aluminium Company (Nalco), TK Chand, said on Monday the company would shift focus on mining and energy sectors as part of its diversification of businesses.
“In the value chain, minerals and power would play a key role in the profitability of a company in coming years,” said Chand who took over as Nalco full-time CMD on Monday. “Nalco would leverage its expertise in mining and energy generation,” he said, adding, “Nalco would also become a world player in minerals and power sectors.”
Stating that both the domestic and global markets are undergoing sluggishness and it is a difficult period for metal industries, he said Nalco has to look for other avenues to overcome this situation.
“We need to focus on volume variance and price variance to augment the realization”. Besides, he added, “New market, expansion of customer base, product diversificatin and high end products are some of the initiatives to be taken immediately to make Nalco tide over the existing market blizzard”.