Nigeria: The chairman of Ashaka Cement, Mallam Suleiman Yahyah, has said that the performance of the company in 2014 showed the resilience of the management and commitment of its parent firm, Lafarge Africa, to sustenance of investment in the north eastern part of the country. Despite losing US$7.54m to insurgents attack in 2014, Ashaka Cement ended the year with a profit after tax of US$22.9m, up from US$14.2m in 2013.
"We have embarked on the expansion of our cement production capacity to 4Mt/yr. The expansion will comprise debottlenecking of the existing line and installation of new line," said Yahyah. He added that Ashaka Cement's target is to achieve 95% coal substitution and to introduce a major corporate social responsibility (CSR) schemes that will help the community with agricultural development.