The European Bank for reconstruction and development (EBRD) will provide Ukraine a loan of €150 million for the construction of a second track, electrification and modernization of signaling systems and communication in the direction Dolynska – Mykolaiv – Kolosivka located in Kirovohrad, Mykolaiv and Odessa regions. The agreement was signed today, December 30, the press service Mininfrastruktury.

The total project cost is approximately €300 million.

“Funding for the project is planned at the expense of attracted loan funds EBRD under the state guarantees in the amount of €150 million”, – stated in the message.

Another €150 million will be provided by the European investment Bank, the financial agreement was signed in December 2016.

See also: Tariffs for railway transportation to be agreed with the business.

According to infrastructure Minister Volodymyr Omelyan, the project will increase the capacity of the railway direction Dolynska – Mykolaiv – Kolosivka, which will allow to solve problems with goods pass in the Nikolaev ports.

Also, the project will allow to increase the speed of freight trains in the area by 20-25%, said the head of the Ministry of Infrastructure.

In November 2017, it was reported that Ukraine may receive the first private railway in the direction Kiev-Odessa.

EBRD to give Ukraine EUR 150 million for the construction of the railway 30.12.2017

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