EIB and EBRD to finance Kharkiv metro expansion

Investing in Ukraine: EIB and EBRD to finance Kharkiv metro expansion

The Ukrainian government has recently approved receiving 2 loans of EUR 160 million each to finance the expansion of the Kharkiv metro granted by the European Investment Bank and the European Bank for Reconstruction Development. The implementation of the project will allow the commissioning of two new stations and an electric depot. Furthermore, it shall also increase the annual passenger flow of the Kharkiv metro up to 25 million.

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The Cabinet of Ministers of Ukraine has recently decided to get a loan of EUR 160 million for a project of expansion of the Kharkiv metro system from the European Investment Bank (EIB). The resolution was adopted by the Ukrainian government at its meeting on Wednesday, 8 November 2017. It is planned that the Ministry of Finance will enter into an agreement with the Kharkiv Metropolitan Communal Enterprise and the Kharkiv City Council on the transfer of loan funds.

Earlier, the government also passed a similar resolution by approving a loan of EUR 160 million from the European Bank for Reconstruction Development (EBRD). The powers to sign both loan agreements are vested in the Minister of Finance Oleksandr Danyliuk.

The implementation of the project will allow commissioning two new stations and the Oleksiyivske electric depot as well as increasing the metro’s share of public transport load to 50% and improving the quality of public transport. In addition, it is noted that the implementation of the project will increase the annual passenger flow of the Kharkiv metro to 25 million.

The project envisages a 3.47 km extension of the “green” metro line in Kharkiv towards the airport, the construction of two new metro stations – Derzhavinska and Odeska, as well as the construction of a depot and the procurement of 85 units of rolling stock.

It is expected that both stations and the area between the existing tunnels and the Derzhavinska station (959 m) will be built at ground level, while the tunnels between the new stations (2514 m) will be constructed as a tunnel complex.

The construction will affect 45 residential buildings, including 3 multi-storeys, having 247 registered residents, as well as several commercial premises.

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