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The European Bank for Reconstruction and Development (EBRD) on October 18, 2017, will allocate a $150 million loan to the state-owned joint-stock company Ukrzaliznytsia, Ukraine's rail operator, for the purchase of freight cars, the EBRD's press service told UNIAN.
The funds will be used to purchase universal general purpose freight cars, says the report.
As part of the rolling stock renewal program, Ukrzaliznytsia has determined the need to purchase some 24,000 open freight cars and is currently seeking EBRD support to partially finance the program's initial phase, which involves acquisition of about 6,500 open freight cars.
Read alsoUkrzaliznytsia posts US$4 mln in net profit in H1 – CEO BalczunThe press service noted that the project's total cost is estimated at $240.7 million, which is expected to be co-financed by the company's own contributions and grant financing of technical cooperation tasks.
UNIAN memo. Public Joint Stock Company Ukrainian Railways carries out 82% of cargo and approximately 50% of passenger transportation in Ukraine by all types of transport. The Ukrainian Railways ranks fourth on the Eurasian continent in terms of cargo transportation volumes, second only to the railways of China, Russia and India.