Plans being made by Myronivsky Hliboproduct (MPH) for the construction of a new biogas plant in Ukraine’s Vinnytsa region have taken a huge step forward as the European Bank for Reconstruction and Development (EBRD) has agreed to extend a loan to the company in the amount of EUR 25 million (US$29.5 million).
In an announcement made via Facebook, MHP CEO Yuriy Kosyuk said when completed, the facility will be the world’s largest producer of biogas based on organic waste, with a capacity of up to 20 megawatts.
The company had previously launched another biogas facility in 2013, according to a report in Unian. The other facility was developed in the Dnipopetrovsk region.
“The launch of this efficiency is quite valuable to our holding in the general ecological situation in the country,” Kosyuk said. “Personally, for me, it's another confirmation that MHP moves in the right direction, and proof of the trust of European institutions to the Ukrainian business.”
MHP is a leading meat producer in Ukraine whose poultry division holds more than 50 percent market share, according to the WATTAgNet Top Poultry Companies Database. Poultry accounts for an 80 percent of revenues for MHP, which owns the Nasha Riaba brand.
The company in November reported improved financial reports for the third quarter of its fiscal year.