McNally Bharat Engineering Co of the B M Khaitan Group has set its sights on new global markets such as Mongolia, South Africa and Indonesia to set up coal washeries and mineral and material beneficiation plants.
The leading engineering company involved in providing turnkey solutions is also in talks for participation in a copper beneficiation plant with Konkola Copper Mines, a subsidiary of Vedanta Resources, the largest mining and metal company in Zambia.
McNally Bharat has been advised by consultants KPMG to drive its future plans with aggression through joint ventures, strategic partnerships and collaborations for a targeted turnover of Rs 7,000 crore in the next 5 years.
It expects a 50% growth in turnover this year at around Rs 2,500 crore. Through CMT (Coal & Mineral Technology), it is now scouting for projects in South Africa, Zambia and Mongolia. In Mongolia, it is pursuing aggressively. As part of its plans to spread its presence overseas, the company is setting up a branch office in China, and Russia and strengthening its presence in Australia.
While it is betting a significant portion of its topline to come from turnkey power projects, projects in steel, metals and mines would contribute to the bottomline. McNally is also eyeing new areas like oil and gas and cement.