MHP announces major poultry investment
Ukrainian poultry producer, MHP, is going to invest around US$ 200 million in its development this year, including a major new poultry project.
US$120 million will be spent in the construction of the Vinnytsia poultry farm, said Head of Investor Relations and Media of MHP Anastasia Sobotyuk. US$ 80 million will be allocated to the expansion of its land bank in order to boost the level of feed crop production in future, the press-service of the company reported.
According to Sobotyuk, it is expected that by the end of this year, the agricultural holding will have 360,000 hectares of land while by 2015 the company's land bank will be equaled to 450-500,000 hectares. This expansion is very important for the company which every year has to grow an increasing volume of feed crops in order to meet the needs of the rising poultry stock.
Anastasia Sobotyuk explained that at the beginning of 2013 the company's land bank should amounted to 285,000 hectares.
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.
To comment, login here
Or register to be able to comment.