ICU Group invests in a cutting-edge recycling plant in Ukraine
MS Social Project LLC, an affiliate company of ICU Group, announced an investment in the biggest recycling plant for solid household waste (SHW) in Ukraine. The factory will be built in the city of Zhytomyr and will fully adhere to all environmental and safety standards of the European Union. MS Social Project plans to invest between €7 to €10 million.
The plant will adapt the latest technology in recycling which is ecological, produces zero emission and has already been effectively implemented in many other countries within the European Union. The in-house sewage treatment system can process more than 82 thousand tons of waste every year with a processing rate of 85% to 95%. The solid waste will be turned into the organic fertilizers and the Refuse-Derived Fuel (RDF), an alternative fuel that is used in concrete factories, which fits perfectly into the framework of the infinite-cycle economy.
Konstantin Stetsenko, the managing partner at ICU, emphasized the investment will bring the latest in waste recycling technology to Ukraine which has a solid track record in many other European cities. While Zhytomyr is the first location for the plant, ICU is also looking at expanding the concept to other Ukrainian cities. This plant represents not only a promising business opportunity but also a chance to improve the environmental situation in the country.
After securing permits, the plant is expected to take a year to complete. The plant will employ 150 staff who will work in two shifts.
Sergey Sukhomlyn, the mayor of Zhytomyr, admits that Zhytomyr has a waste processing problem, similar to other cities in Ukraine but is pleased that Zhytomyr was chosen for this new initiative and believes that the plant will help combat the issue. The new plant will ensure the fast and cost-effective resolution of this issue, thus improving the environmental situation in the entire region. Moreover, this project will create new employment opportunities.
Tehnix, a leading equipment manufacturer from Croatia and the developer of MBH-T (mechanical, biological, and heat treatment, as well as recycle household waste), was awarded the contract for this project. Tehnix can recycle about 95% of solid household waste which will help reduce the number of landfills in the region. Tehnix is an expert in its field, having already completed 50 such project across the European Union.
Stepan Mikulchich, the director of Tehnix in Ukraine, said that this innovative technology provides reliable SHW management and eliminates the need to build additional landfills. The plant is economically self-sufficient: capable of processing solid waste without emitting any harmful emissions, and it can operate within the existing logistics structure. The technology patented, while the plant itself can be built on a small piece of land.
A brief overview of ICU Group
AMC Investment Capital Ukraine LLC, ICU Group has full ownership of MS Social Project LLC.
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.
