MHP and IFC has signed a letter of intent

08.06.2012

The letter fixed possibility of cooperation between MHP and IFC on the development of resource efficiency in Ukraine.

International Financial Corporation (IFC) conducts advisory program on attraction of investments in resource efficiency in Ukraine, Russia, as well as in Europe and Central Asia. Agrosector is focus of the program in Ukraine.

MHP’s goal is to raise resource efficiency of the company’s production, switch to alternative energy sources and improve efficiency of recycling. MHP plans:
• to develop strong corporate department responsible for resource efficiency, updating of production processes and reducing operating expanses;
• to develop valid methods of biomass treatment to produce value-added products/components or energy;
• to develop wise approach to waste management (focusing on chicken manure recycling).

Straight after signing the protocol the parties plan to agree on the basic aspects of future cooperation, in particular to set the goals of the project, powers and duties, possibility of external assistance, project budget and timing.

Yuri Kosyuk, CEO of MHP, said: "I am strongly convinced that our mutual cooperation with IFC on efficient use of resources will facilitate technological modernization at all MHP’s enterprises with application of the latest achievements of modern science and technology. High standards of energy efficiency, rational use of water, smart solutions for waste disposal through alternative energy, European environmental standards in the area of production will strengthen strategic leadership of MHP in both foreign and domesctic markets."

Christine Turilova, manager of IFC Program «Investment attraction in resource efficiency» in Ukraine and Russia, said: "Resource efficiency is latent method to reduce costs, increase profitability and improve competitiveness of the Company on a global level. Our experience has proven, that Ukrainian agroindustrial companies can save up to 40% on energy costs, and get additional benefits from recycling. We are delighted to work with such strong partner as MHP on implementation of the best world practices of effective resource use. Gained experience could become an example for other agroindustrial companies in Ukraine.
 

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