Ukrainian Prime Minister Arseniy Yatseniuk has proposed involving Ukrainian companies which produce goods for the railways in setting up an industrial pool for the modernization of Ukrzaliznytsia.

"As part of the reform I appeal to you asking within the second block [of the establishment of PJSC Ukrainian Railways] to draw up a plan for the modernization of Ukrainian railways and show the country how we will upgrade the rolling stock and the track, as well as meet with all Ukrainian companies that are capable of modernizing infrastructure," he said at a meeting of the Cabinet of Ministers, addressing Infrastructure Minister Andriy Pyvovarsky.

Yatseniuk stressed that a serious financial and economic package is essential.

"Perhaps we will raise part of financial resources abroad, partly use internal resources and partly the owners of companies that employ thousands of people will also take part, maybe raise financial loans, and then we'll be able to start a large-scale modernization of Ukrainian railways," Yatseniuk said.

He added that the current level of localization for the modernization of railways is 100%, taking into account the fact that rolling stock and infrastructure components are manufactured in Ukraine.