The Cabinet of Ministers of Ukraine has completed negotiations with U.S.-based GE Transportation and by the end of this year an agreement on strategic partnership to implement a seven-year rolling stock renovation program for Ukrzaliznytsia will be signed, the government's press service has said.

The relevant agreement was achieved during a meeting of the GE Transportation leadership with Prime Minister of Ukraine Volodymyr Groysman.

"I am glad we have finalized our agreements, and all the documents must be coordinated and signed by the end of the year. The government will facilitate this process," the head of government said.

The report says the active phase of negotiations on this project has been conducted for the last three months by the leadership of Ukrzaliznytsia with the support of the Ukraine Investment Promotion Office UkraineInvest.

The parties agreed that within the framework of implementation of all agreements localization (the use of Ukrainian capacities) will increase to 40%. In addition, it was agreed that products of Ukrainian origin, created on the basis of technologies and observing GE standards, will be used in other GE Transportation projects in other countries.