MHP To Implement Project In Saudi Arabia Along With Local Contractors

Kyiv-based MHP (Mironivsky Hliboproduct), one of the largest poultry meat producers, is planning to implement a project in Saudi Arabia along with local contractors.

The company has said this in a statement, Ukrainian News Agency reports.

MHP and local partners are expected to invest 30% of the start-up capital and the rest of the amount will be financed at the expense of cheap long-term loans provided by Saudi Arabia.

According to the report, the key partner and official sponsor of MHP in Saudi Arabia is Turki bin Faisal Al Said, a Saudi politician and diplomat.

As Ukrainian News Agency earlier reported, MHP has revised the EBITDA outlook for 2019 downwards by 15% to USD 382.5 million.

The MHP public joint-stock company is a vertically integrated open joint-stock company consisting of enterprises producing chicken, incubation eggs, and fodder, as well as enterprises engaging in crop cultivation.