Business news from Ukraine

Business news from Ukraine

Ichnia Dairy Plant invests UAH 150 mln in cheese production and builds farm

7 November , 2024  

In 2025, Ichnia Milk and Canning Plant PJSC (ICCP, Chernihiv region) will launch a cottage cheese production line, for the construction of which it has raised UAH 150 million under the state program “Affordable Loans 5-7-9%” and will build a dairy farm, according to Vitaliy Koval, Minister of Agrarian Policy and Food.
“I visited the company and talked to the management. Despite the war, the plant has not stopped. Today, it employs about 300 people. The average salary at the enterprise is over UAH 19 thousand. Last year, they paid UAH 28.7 million to the budgets of various levels,” he said during a visit to the plant as part of a working trip to Chernihiv Oblast.
According to him, the company’s plans for 2025 include not only the launch of a new line with a capacity of 300 tons per month, but also the construction of a farm for 4,000 cattle.
Mr. Koval noted that Ichnia Dairy and Cannery manufactures its products according to international standards. The production capacity of condensed milk is 24 thousand tons per year. The company exports its products to Asia, Africa, America and Europe. In the first nine months of 2024 alone, this amount amounted to 3.3 thousand tons.
“The Ministry of Agrarian Policy supports the export orientation of Ukrainian processors, as one of our priorities is to open new markets for domestic products. And the management of Ichnia Dairy and Cannery already has experience that they can share with their colleagues,” the Minister of Agrarian Policy summarized.
“Ichnianskyi Dairy-Canning Plant is part of the Proviant group of companies, which is a distributor and exporter of condensed milk produced by the plant. Proviant LLC is a member of the group of the same name along with other companies engaged in the production and sale of dairy products.
According to the information in the NSSMC disclosure system, the shareholders with large stakes in IMCC are Proviant LLC, which owns 53.7% of the shares, and Hyperion Invest Closed Non-Diversified Venture Corporate Investment Fund, which owns 43.92%.
According to information on its website, IMCC occupies about 25% of the domestic market in the segment of products it produces (bottled milk and condensed milk) and exports them to 38 countries. Its brands are Ichnia, MamaMilla and Milada.

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