It also said that the production capacity of the cement firm had reached 3.8 tonnes against the 1.6 tonnes capacity before its privatisation.
The BPE disclosed this on Wednesday in a statement issued after a visit to the company in Ewekoro, Ogun State.
In the statement, signed by its spokesman, Chukwuma Nwokoh, the BPE quoted Lafarge Company Secretary, Ms. Uzoma Uja, as saying that the company had spent N570 million to develop its host communities.
``Soon after privatisation, the company embarked on backward integration which has resulted in job creation with WAPCO now having a workforce of 2,000,’’ she said.
Uja told BPE officials that the foreign investor, Lafarge, a French company, had complied with all the conditions in the Share Purchase Agreement.
She called on the Federal Government to reverse the waiver on the taxes and duties as this had led to the postponement and abandonment of some projects.
The statement said the cement company also informed the team of plans to supply 30 megawatts of electricity to Ewekoro community, from its 90 megawatts power plant.
You will recall that the cement company, in March, declared a dividend of 75k per share for its shareholders for its operations in the last financial year.
The company, in an audited result submitted to the Nigerian Stock Exchange reported a turnover of N62.5 billion against the N43.8 billion recorded in 2010, an increase of 43 per cent.
It also reported that its profit after tax stood at N8.5 billion in 2011 against the N4.89 billion recorded in 2010, a growth of 74 per cent.
The company’s net asset value rose by 16 per cent to N56.1 billion against N48.3 billion in 2010.
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