Ukraine to raise $300 mln loan from China Eximbank via CRBC to build bridge in Kremenchuk
Ukraine intends to raise a $300 million loan from Export-Import Bank of China via China Road and Bridge Company (CRBC) to build a bridge in Kremenchuk.
The press service of Ukraine's Infrastructure Ministry reported that this was discussed during a visit of Deputy Minister for European Integration Viktor Dovhan to Beijing, China, on May 11 through May 13. He discussed three top priority infrastructure projects for Ukraine with the top managers of the Transport Ministry of China: the possible options for the implementation of the Air Express project, a bridge in Kremenchuk and concession of the railway ferry complex at the Chornomorsk seaport.
"The important infrastructure projects were presented to potential Chinese investors – state-owned China Railway Company, which is mulling investment in modernization and production of electric locomotives at production facilities of public joint-stock company Ukrzaliznytsia," the press service said.
Dovhan also discussed dredging works at the Yuzhny port with China Harbor Engineering Company and parent company China Communication Construction Company, which are interested in cooperation with Ukraine.
The press service of the Economic Development and Trade Ministry reported that Economic Development and Trade Minister Stepan Kubiv who was present at the meeting pointed out the good presentation of a project to build a bridge near Kremenchuk and a project to reconstruct the Shuliavka Bridge in Kyiv. He said that the total cost of the two projects is $400 million. Thus, the total cost of the project to reconstruct the Shuliavka Bridge is $100 million.
"I propose to you to finish preparatory works for the projects no later than September and eventually switch to the signing of loan agreements and an agreement to implement the works with the corporation. A working group will be created to analyze these investment projects. The group would include representatives of the Economic Development and Trade Ministry, Infrastructure Ministry, Finance Ministry and Ukravtodor," Kubiv said.
He also recalled that under the One Belt, One Road initiative it is important to improve existing and develop new logistics opportunities.
"Aiming at improving the conditions, increasing the capacity and speed and boosting competitiveness of multimodal container transportation on the China-Western Europe-China route and transit across Ukraine, we are ready to make efforts to develop and modernize transport infrastructure on the basis of the public private partnership projects and other modern forms of cooperation," Kubiv said.
He said that the implementation of some logistics projects in Ukraine would create additional opportunities for transit flows under the One Belt, One Road initiative. This is construction of port terminals, elevators, rolling stock for transportation of agricultural products and storage facilities.