Ukraine: MHP to invest $350 million in 2011
OJSC Myronivsky Hliboproduct (MHP), one of Ukraine's largest agricultural production companies, intends to invest $350 million in production development in 2011, reported the company's press-service.
The company says this investment will be funnelled into further construction of poultry facilities in Vinnytsya region.
“The amount of investments in the project will approximate $350 million in 2011. Granaries of Ladyzhynsky compound feed mill, being a part of the Vinnytsya facilities, will be put into operation in late 2011”, MHP representatives said.
It is also reported that the land bank is planned to be slightly expanded in 2011.
Poultry plant and feed mill
In addition, the company spokespersons informed that about $90 million was invested in 2010 to build poultry facilities in Vinnytsya region (Ladyzhynsky compound feed mill and Vinnytsky Broiler poultry plant). During 2010 the land bank was expanded from 180,000 ha to roughly 280,000 ha.
According to MHP the products they make (they are operating at full capacity) all sell well now: either in the form of cooled chicken meat, or in the form of meat-processing products (ready-to-cook meat, sausages).
Therefore an increase in sales is possible only through launching new capacities, whose construction is under way in Vinnytsya region.
The spokespersons added that the first line would be launched in 2013 and the second one in 2014.
The first two production lines of Vinnytsky Broiler poultry plant will reach their full capacity (220,000 tonnes) in 2015.
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