The European Bank for Reconstruction and Development approved EUR 150mln facility for Ukrainian Railways Ukrzaliznytsia, told Anton Usov a senior advisor of the EBRD. The credit decision for electrification project Dolynska-Mykolaiv-Kolosovka, that is 253km long, was approved by the executive board this week.
Apart from the two connecting projects of Dolynska-Mykolaiv and Mykolaiv-Kolosovka in Southern Ukraine, the project foresees track laying and surfacing on the way where there is a single-track railway line.
At this, the bank emphasizes that the project is aiming at increasing the actual carrying capacity of the railways servicing ports of Odessa region, as well as local districts.
The facility will be disbursed by two tranches: First tranch is EUR 124.5mln for the electrification, track laying and surfacing along with erection of the high voltage transmission line in Dolynska-Mykolaiv district, which is 148km long. The second tranche will amount to EUR 25.5mln purposing electrification needs for 105km long district of the railways Mykolaiv-Kolosovka.
To note, the total project costs amount to EUR 367.9mln.
That’s why, Ukrainian Railways will spend its own funds and attract other grant financing in the frames of the technical assistance programs.
