Nalco puts expansion, diversification plan in fast mode.

Nalco recently put expansion, diversification into mining and other areas on top priority, besides focusing on exploring new and virgin markets, to tide over difficult phase faced by metal sector due to sluggish domestic and global markets

'Despite sluggishness in domestic and global markets, Nalco is maintaining profitability. However, turnover of the company needs to be raised and for this diversification is essential,' Nalco's new CMD Tapan Kumar Chand told reporters soon after taking over charge here.

Diversification should be undertaken both horizontally and vertically to ensure speedy growth and increase turnover, he said, adding, the company can diversify into power, mining and other areas.

While, expanding activities in mining would further strengthen Nalco in view of its experience in the sector, the CMD said it (Nalco) needs to acquire new mines as raw materials hold key to industrial activities.

BS