Railways will upgrade railway track for $100 million

Укрзализныця обновит железнодорожное полотно на $100 млн

Railways will upgrade railway line transport corridors TEN-T

The company told about plans for the proceeds from the offering of the Eurobonds.

Ukrzaliznytsya will use the proceeds raised from the additional placement of Eurobonds amounting to almost $100 million to upgrade the railway transport corridors TEN-T (TRANS-European transport system). On Tuesday, September 10, Minister of infrastructure Vladislav Crickley on his page in Facebook.

“Ukraine is integrated into the transport system of the EU. Today, Ukrzaliznytsya has placed nearly $100 million Eurobond with the final maturity of the additional issue in 2024 with an effective rate of 7.292% per annum. The coupon rate on the bonds is the lowest since 2011 among quasi-sovereign borrowers from Ukraine”, – said the Minister.

According to him, the funds will go to upgrade the railway transport corridors TEN-T, through which passes about 80% of all transit cargo.

Crickley promised that all procurement under this financing will be at a qualitatively new level of organization and significantly expand the list of possible suppliers.

Earlier it was reported that employees of the Railways was caught on a bribe in 200 thousand UAH.

It was also reported that Ukrzaliznytsia was going to buy shirts on 1,5 million UAH and glasses for two thousand hryvnia, but abandoned these plans when the information about the controversial tenders appeared in the media.

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