Faced with a muted global metal market and a weak bottomline, aluminium major NAlCO on Saturday announced plans to diversify into areas like green power, caustic soda and merchant mining, which are ‘immune’ to downturns.
Given the ‘tough going’ in the market, NAlCO is framing a New Business Model (NBM) and a new corporate plan to withstand market onslaughts and keep the company afloat with profitability, Chairman and Managing Director Tapan Kumar Chand said.
The model envisages diversification into green power, IPP, caustic soda, rare metal like titanium, recovery of iron from red mud waste and merchant mining that are immune to downturns in the metal market, he said. “his NBM will not only give a new dimension to the company's growth plans but also redefine business sustainability,” Chand said at the company's annual general meeting here.