June 19, 2013

MHP invests US$200 million in poultry farm and land bank

Ukraine's MHP will invest about US$200 million on development, including a new major poultry farm and the expansion of its land bank.

About US$120 million will be spent on the construction of the Vinnytsia poultry farm, said head of Investor Relations and Media of MHP, Anastasia Sobotyuk. US$80 million will be allocated to the expansion of its land bank in order to boost the level of feed crop production in the future, the press-service of the company reported.

According to Sobotyuk, the company's land bank amounted to 285,000 hectares at the beginning of 2013 and by the end of this year, the agricultural holding is expected to have 360,000 hectares of land. By 2015, the company's land bank will total 450,000 hectares to 500,000 hectares. This expansion is very important for the company, which has to grow an increasing volume of feed crops every year in order to meet the needs of the rising poultry stock.

MHP is the largest producer of chicken meat in Ukraine. In addition, the agricultural holding is engaged in the production of cereals, sunflower oil and other food products. Vinnytsia poultry farm of the complex should be the largest facility for the production of poultry meat in Ukraine.