MHP Signs Agreement with EBRD
OREANDA-NEWS. July 20, 2010. MHP
Under the Agreement, EBRD is providing a USD 50 million loan, which consists of a USD 35 million working capital loan and USD 15 million, which will be channeled to energy efficiency improvements, in particular, the installation of a biomass boiler, the modernization of the existing storage and the construction of new cold storage units at MHP’s meat processing plant. The Company is also planning to replace the existing energy intensive cooling equipment as part of the project.
Gilles Mettetal, EBRD Director for Agribusiness, said: “By supporting MHP, the Bank maintains its focus on financing strong local companies and brands. The project also underscores the EBRD’s commitment to supporting energy efficiency initiatives across all the projects that it finances.”
Yuriy Kosyuk, CEO of MHP, said: "This transaction will serve to strengthen and support our expansion further. It will enable us to continue to implement our vertical integration strategy by expanding our operations to deliver high-quality products for the domestic market and run our business efficiently.”