Kyiv city signs memo on building fourth subway line with Chinese consortium
Kyiv City Administration has signed a memorandum of cooperation with a Chinese consortium, consisting of China Railway International Group and China Pacific Construction Group, for the implementation of a project to build the fourth subway line in the city.
According to a posting on the administration's website, Deputy Head of Kyiv City Administration Mykola Povoroznik signed the document during a visit of a Ukrainian delegation to China. The delegation took part in the dialog at the high level at the One Belt, One Road forum.
Povoroznik said that under the memo the Chinese consortium having large experience in building infrastructure projects is a managing partner of the project to build the fourth subway line in Kyiv. The consortium intends to analyze the current state of the project implementation.
"Specialists from China would study the current state of the implementation of the project on construction of the fourth subway line in Kyiv. They would consider technical details, the volume of financing and the legal way thanks to which the project will be completed. The study would also include the assessment of legal and financial viability of the project, including the feasibility study and the estimated spending," he said.
According to the memo, the consortium of Chinese company could act as contractor operating under the Engineering, Procurement, Construction (EPC) conditions and implement projects using the EPC+F (EPC plus financing) model.
The Chinese consortium would help Kyiv City Administration to attract funds of Chinese financial institutions, which would help to establish cooperation with the Chinese government and implement large infrastructure projects.