Recycling Solutions from the portfolio of the UMG Investments of the SCM Group has announced the opening of the Ukrainian Mineral Fertilizers complex, the main product of which is nitrogen-sulfur and multiple-nutrient fertilizers based on ammonium sulfate, in the city of Kryvy Rih, where over $11 million was invested.
“We planned and built the complex from scratch. The total investment amounted to more than $11 million. The company created 72 jobs,” UMG Investments CEO Andriy Gorokhov said in a press release on Tuesday.
According to the press release, the production capacities of the new manufacturer, operating with compacting technology, make it possible to provide Ukrainian farmers with up to 100,000 tonnes of finished products every year. The complex has new equipment from the Japanese-German holding Hosokawa Alpine.
The CEO of UMG Investments reminded that this is the second project of the processing portfolio this year: in March it was announced that it had entered into an agreement with Ihor Liska’s Effective Investments company to acquire a minority stake in Feednova, a new enterprise for the production of high-protein feed additives for agricultural and domestic animals. Now the company has already begun the process of placing equipment of the first stage at the construction site, and the project is planned to be completed by the end of 2020.
“We are planning further investments in recycling and are now looking for partners and considering appropriate projects for plastic recycling,” Gorokhov said.
Recycling Solutions is a Ukrainian company managing by-products and waste for the coal, metallurgical, thermal power and agricultural industries of Ukraine. Its areas of operation is processing and sale of ash and slag materials, smelter slag, rare and industrial gases, ammonium sulfate, animal by-products; production of heat and electricity from coal mine methane.
CEO of Recycling Solutions Dmytro Anufriev said that for many years crystalline ammonium sulfate – a valuable by-product of the metallurgical industry that can be turned into fertilizers – was exported for processing to countries such as Turkey, Bulgaria or Serbia, and then imported after processing back to Ukraine.
“Recycling Solutions has set up a local production facility in Kryvy Rih for processing crystalline ammonium sulfate into a ready-to-use granular product,” Anufriev said.
In the first half of 2020, Recycling Solutions sold more than 825,000 tonnes and 455,000 cubic meters of waste and by-products of domestic enterprises. The company received UAH 343.1 million of gross income and invested UAH 12.2 million in the creation of new processing enterprises, according to the release.
The company said in the press release that since its foundation, Recycling Solutions has attracted more than $15 million of investment in business development and the introduction of recycling technologies. The company employs over 220 people.
UMG Investments starts and develops businesses with high growth potential.
