May 21, 2012


Ukraine's MHP to invest US$300 million in poultry-breeding complex



A US$300 million investment in poultry-breeding complex in Ladyzhyn, Vinnytsia region is being planned by Myronivsky Hliboproduct (MHP) in 2012, head of the company department for investor and mass media relations, Anastasia Sobotiuk, has announced at a press conference.


"Company's investments for this year are US$300 million in the Vinnytsia project," she said.


The company plans to commission the Vinnytsia project in January 2013.


As of late 2011 the company had injected US$360 million out of the US$750 million budget planned for this project.


After commissioning of the first production line, total annual volumes of chicken meat output in MHP will increase by approximately 50,000 tonnes a year.


As Ukrainian News earlier reported, MHP in 2010 began building the first phase of a poultry-breeding complex in Vinnytsia region.


The first phase of the complex is planned to be commissioned in 2013, the first two phases will be ready in 2015.


Myronivsky Hliboproduct earned a net profit of US$48 million in the first quarter of 2012 ended March 31, 2012, its revenue increased by 21% to US$298 million while US$247 million in the first quarter of 2011.


Myronivsky Hliboproduct is a vertically integrated open joint-stock company consisting of enterprises producing fodder and incubation eggs as well as enterprises breeding cattle and chicken.


Myronivsky Hliboproduct produces poultry meat under the Nasha Riaba trademark, semi-finished meat products under the Lehko trademark, beef delicacies under the Certificated Angus trademark, and goose liver delicacy under the Foie Gras trademark.