Avangard to complete construction of two poultry complexes by 2012

Avangard holding, one of the largest vertically integrated companies producing eggs in Ukraine, is planning by late 2011 to complete the construction of two poultry complexes in Khmelnytsky and Kherson regions, Oleh Bakhmatiuk, the head of the board of directors at Avangardco Investments Public Limited, has told Interfax-Ukraine.

"We plan to complete construction by the end of 2011 and start full operation by late 2012," he said.

According to Bakhmatiuk, a poultry complex will include a poultry factory with three million birds, a feed mill with a capacity of 40 tonnes per hour, workshops for sorting and slaughtering birds, and a biogas plant.

Bakhmatiuk said that the total cost of both projects is $450 million. He said that the commissioning of both poultry complexes would raise the holding's egg production capacity by 35%.

Bakhmatiuk confirmed a company's intention to perform a secondary public offering (SPO) in 2012.

"I believe that in 2012 the market conditions will be the most favorable for the SPO," he said.