EBRD could provide up to $150 mln to Ukrzaliznytsia in Oct to buy gondola cars

12:57, 25.07.2017 1 min read

The European Bank for Reconstruction and Development (EBRD) in October 2017 could provide a loan of up to $150 million to public joint-stock company Ukrzaliznytsia to buy gondola cars.

The bank said that the decision could be made on October 18, while earlier the date for the board meeting to discuss the issue was September 20, 2017.

The total cost of the project is estimated at up to $240.7 million, expected to be cofinanced by the company's own contribution and grant funding of the technical cooperation assignments and grant financing of goals of technical cooperation.

The project is an integral part of the multi-stage program to upgrade rolling stock of Ukrzaliznytsia. The public joint-stock company seeks to buy around 24,000 gondola cars. The company is looking for bank support to partially finance the initial stage of the program, which envisages the purchase of up to 6,500 gondola cars.

Earlier it was planned that the tender to buy these gondola cars will be launched in Q3 2017.