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Swedish EastCapital to participate in financing construction of private school in Kyiv

Swedish EastCapital to participate in financing construction of private school in Kyiv

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188 Goverment finance

Swedish EastCapital to participate in financing construction of private school in Kyiv

  • The project will be carried out by the winning company AR Osvita LLC associated with the asset management company

AR Osvita LLC, associated with the asset management company East Capital from Sweden, won a tender for construction of a private school in Obolon district of the capital Kyiv city. The total project cost amounts to UAH 200mln (USD 7mln).

The school will be located over 2.2ha of land plot for attending of around 660 pupils. There were two filling companies presenting projects of a modern school upon consideration. Investment commission chose AR Education LLC that made a better offer for the Kyiv city. It is not an ordinary school investment project, it will be investment into quality education, told Oleg Mistiuk head of Kyiv Investment Agency.

“The project is a step forward to supporting modern Ukraine and its European choice. The organization of the tendering procedure for attracting investors was transparent, and we are thankful for it. Let this investment become one of the many Western investment inflows in Ukraine”, told Ekaterina Rybachenko East Capital representative official.

The school project is under design and development, as of present. The construction works will start in one year and the school will be opened in five years, according to the terms of the agreement.

KyivInvestmentAgency is a municipal enterprise registered and run by the Kyiv City Council. The agency is responsible for direct investment income of the city budget. It managed infrastructural projects mainly. The mission of the agency is to ensuring a one window approach in establishing relations between the city authorities and investors. The agency is devoted to compliance and transparency policies in investment projects of Kyiv municipality.

AR Osvita LLC is associated with EastCapital. East Capital is an independent asset manager specialised in emerging and frontier markets, founded in Sweden in 1997, with offices in Dubai, Hong Kong, Luxembourg, Moscow, Oslo, Stockholm and Tallinn. The company manages EUR 3.3 billion in public and private equity funds, real estate funds and separate accounts, for a broad international client base, including leading institutions.

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