The funds will be channeled to finance the electric railway line Dolynsk-Nikolayev-Kolosovka, told the CEO of Ukrainian Railways Wojciech Balczun. The project will help to increase speed by 25-30% in transportation of freights to the nearby seaports.
The manager disclosed that both banks equally will provide the facility for USD 150mln each. The parties agreed upon the schedule of paper work for the endorsement and signing the contract. The European parners find Ukrainian railways major as reliable and promising entity for a long term cooperation. At this, the EIB voiced its readiness to participate in other loans for the Ukrainian Railways company with regard to the fleet of locomotives.
