Ukraine will receive 150 million euros to modernise the Railways in the South from the EIB

Украина получит 150 млн евро на модернизацию железной дороги на юге от ЕИБ

a train in winter, archive photo

The European investment Bank(EIB) agreed on a loan of 150 million euros for the modernization of the railway in the South of Ukraine. It is stated in the message press service of the Bank.

In accordance with the project going to upgrade about 250 km of railway in southern regions of the country. The total project cost is around 314 million euros. The project aims to improve transport infrastructure in Ukraine and facilitate the development of sustainable transport.

As previously reported, in October 2016, “uz” agreed the last details of the loan from the European investment Bank (EIB) and European Bank for reconstruction and development (EBRD) for the electrification of direction “Dolinskaya-Nikolayev-Kolosovka” with a total amount of 300 million euros.

In October 2015 the chief of the Odessa railroad Gregory Boyko noted that work on the electrification of the railway section “Dolinskaya-Nikolaev” was estimated at 290 million Euro.

Later, in April 2016, the then C. O. of the head “Railways” Evgeny Kravtsov expressed hope that the cooperation with the EBRD and the EIB, the company will raise funds for the electrification of the priority railway directions, in particular section “Dolinskaya-Nikolaev”.