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701 Goverment finance

State budget foresees UAH 800mln (USD 30mln) to continue building highway to connect Baltics and Black Sea ports

A highway from Polish Gdansk at the Baltics Sea and Ukrainian Mykolaiv via Odessa at the Black Sea is under reconstruction

PM Volodymyr Groysman announced starting works for building a highway to connect the Baltics Sea and the Black Sea in Ukraine.  UAH 800mln (USD 30mln) will be allocated for the ongoing works of the project from the budget. The project route goes through cities of Lviv-Ternopil-Vinnytsia-Odessa and Mykolaiv in Ukraine. Thus, the realization of the project GO HIGHWAY (Gdansk-Odesa) has been underway already, told PM Volodymyr Groysman. Recently, state-owned roads repairs major UkrAvtoDor and Chinese CRBC signed a memorandum for collaboration for reconstruction works of М-14/Е-58 Odessa – Mykolaiv – Kherson. After the feasibility study, the Chinese financial institution may provide a loan for the road repair. The highway must connect three major port cities in Ukraine where 80% of cargo turnover is being handled. Upon completion of the road works, the GDP of Ukraine can be increased 1.5-2% told Slavomir Novak the head of UkrAvtoDor.

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