Ukrzaliznytsya to receive EUR 150 million from EBRD for modernization
The Ministry of Infrastructure of Ukraine and the European Bank for Reconstruction and Development (EBRD) signed a guarantee agreement on the allocation of a EUR 150 million loan for electrification, construction of a second track, modernization of alarm and communication systems along the Dolinskaya-Nikolaev-Kolosovka line.
The total cost of the project should be about EUR 300 million. The financing will be provided by the EBRD loan funds for state guarantees (EUR 150 million), and by raising funds from the European Investment Bank (the corresponding agreement was signed in December 2016).
According to the Minister of Infrastructure Vladimir Omelyan, the modernization and expansion of the Dolinskaya-Nikolaev-Kolosovka railway line will increase the capacity in the direction of the Nikolaev and Odessa ports.
This should also make it possible to increase the partial speed of freight trains by 20–25%, which will shorten the time of delivery of cargo and reduce the operational costs associated with the organization of train traffic.
Reference: Ukrzaliznytsya in Jan–Nov 2017 transported 33.6 million tons of grain cargo, which is 18.2% more compared to the same period last year.