The jobs will be created in a range of areas in projects such as environmental solution, waste recovery and recycling and new investment in wind and gas power stations.
At its AGM in Dublin, the company announced an operating profit for the past year of €23.8m.
Chief Executive Gabriel D'Arcy today told RTÉ News that the company is considering a move to change its name in light of the present environment in which it works.
Bord na Móna which is translated as The Turf Bord has been operating under that name for 75 years.
However, Mr Darcy said the company was looking at the possibility of adopting a new name which would reflect its proud heritage and history but also the new areas in which it works.
Bord na Móna's move from peat harvesting to alternative enterprise is already well advanced.
For the first time employees will be represented through the creation of an employee share ownership programme, which holds 5% of the company.
Last week 'An Bord Snip Nua' advised that the semi-state company had expanded beyond its original mandate.
The company announced previously it was investing €150m in the waste and recovery sector.
The McCarthy report said Bord na Móna has moved into areas of non-peat related energy generation and waste management.
It said the Government should look at selling assets and possibly privatising the company.
Earlier this year it confirmed a deficit of over €50m in one of its pension schemes.
Union officials have already said there will be widespread opposition to proposals for the privatisation of the company made by Professor Colm McCarthy's group last week.
Meanwhile, the Bord Na Móna Group of Unions, which represents up to 2,000 employees at the company, has called on its Chief Executive to honour commitments on pay increases which are due to staff under national agreement.
Greg Ennis of SIPTU, the largest union in Bord Na Móna, told RTÉ News that while the Group of Unions welcomed today's jobs announcement it was now essential that pay increases agreed under the Partnership and Sustaining Progress agreement should be honoured.
The unions say that with an operating profit of nearly €24m, Bord Na Móna could have paid their employees the increases they were owed costing them less than €3m, instead of telling its workforce that the situation would be reviewed again in March of next year.
