As stated by the IFC, the Project involves providing a long term corporate loan facility of up to US$250 million to Myronivsky Hliboproduct, the largest integrated poultry producer in Ukraine, to support the Company's expansion plans in Ukraine and refinance its Eurobond maturity falling due in 2015.
In May 2010, MHP started the construction of the Vinnytsia complex, which increases gradually its production of chicken meat. The first phase of the Vinnytsia poultry facilities (220,000 tonnes capacity) is to be put in full operation in 2014. In 2003, IFC initially invested in MHP to support its efforts in chilled poultry distribution and sunflower feed technology (Project ID 21071). IFC followed-up with an equity investment and a loan in 2005 (Project ID 24011) for further expansion of existing facilities and the construction of new ones in Myronivska poultry farm of integrated operations. In 2010 (Project ID 29204) and 2012 (Project ID 32632) IFC invested in MHP to support its efforts in expanding the scope of its agricultural operations in connection with the Company's expansion plan in farming and poultry operations. EHS performance for this last investment is satisfactory and ESAP's action items have been effectively implemented. Information on the EHS aspects of the Projects can be found at the IFC website.
As stated by the IFC, MHP is a long standing IFC client and a leading Ukrainian vertically integrated poultry group listed on the London Stock Exchange. The Company operates the key steps of the chicken meat production process including crop growing; grain processing; fodder and sunflower oil production; hatching egg production and incubation; poultry rearing and processing; distribution and sales. Associated agricultural and processing operations include sunflower oil, sausages and cooked meat production; fruit growing and sell; cattle breeding; meat processing. MHP produced around 473,000 tons of chicken meat in 2013. MHP controls and operates approximately 360,000 hectares of land of which 320,000 ha in Ukraine used in grain production for self-animal feed consumption and trading and the Company is self-sufficient in corn, the main fodder ingredient.
MHP is 66% owned by WTI Trading Limited, with 34% of the shares listed on the London Stock Exchange. WTI Trading Limited is owned by Mr. Yuriy Kosyuk, a local entrepreneur, who graduated from the Ukrainian Food Institute in 1991 and established MHP in 1998. Prior to launching his poultry business, Mr. Kosyuk was involved in various business activities, including grain and retail trading, food processing.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Client - Myronivsky Hliboproduct PJSC:
Sobotyuk Anastasiya - Head of Investor Relations and Communications Department
Address: 158, Ak. Zabolotnogo St., Kyiv 03143, Ukraine
Phone: +38 044 207 00 70
ACCOUNTABILITY MECHANISM OF IFC
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