MS Social Project, the wholly-owned subsidiary of ICU Group, has announced an investment to solid household waste (SHW) recycling plant in Zhytomyr, Ukraine.
The plant is built to meet with all corresponding safety and environmental requirements of the European Union. In order to realize this ambitious project, the company plans to allocate between €7 million to €10 million euros in the form of direct investments.
All operations at this plant will be based on the innovative technology that has already obtained wide recognition across Europe. It allows for recycling of solid household waste in an eco-friendly environment (emission and pollution free).
The unique in-house sewage system can process about 82,000 tons of waste every year. The final products include the Refuse-Derived Fuel (RDF), which is widely used in many cement factories, as well as the ecological fertilizers. The SHW recycling will become a decisive element of the sustainable and ecologically aware closed-cycle economy.
Konstantin Stetsenko, the managing partner at ICU, said this technology has a proven track record in Europe, and will now be introduced to Ukraine. MS Social Project will consider building plants in other parts of Ukraine after the factory is completed in Zhytomyr. Aside from being a good business opportunity, the plant provides a social platform to improve the environment in the city.
The project will take approximately one calendar year to complete after securing all the necessary permits. The plant will employ 150 people who will work in two shifts.
Sergey Sukhomlyn, the mayor of Zhytomyr, acknowledged the environmental issue in the city and is delighted his city was chosen for the first plant. The new plant will provide a sustainable solution for recycling solid household waste. Moreover, it will help invigorate local economy by providing more job opportunities and bring in additional revenues for the city.
The contract for this project has been awarded to Tehnix, a renowned manufacturer and developer of MBH-T technology (mechanical, biological, and heat treatment). The company can recycle about 95% of household waste which will reduce the number of landfills around the country. Tehnix already has more than 50 similar projects under its belt across the European Union.
Stepan Mikulchich, the CEO at Tehnix Ukraine, said that their technology brings efficient SHW management and eliminating the need for more landfills. The plant is economically viable, eco-friendly, and complies with the existing logistics framework. The plant can be built on a relatively small piece of land and the technology is protected by the patent legislation.
What is ICU Group
MS Social Project LLC is fully owned by AMC Investment Capital Ukraine LLC, ICU Group.
ICU Group is an independent asset management, private equity, and investment advisory firm specializing in the Emerging Markets of Central and Eastern Europe.
Founded in 2006 by senior investment professionals from ING, ICU is Ukraine’s leading asset manager. ICU currently manages over US$500m in assets. Managing partners Makar Paseniuk and Konstantin Stetsenko are majority shareholders of ICU.