Kyiv-Odesa high-speed railway may emerge in Ukraine

"We want to build the high-speed line with the European standard gauge between Kyiv and Odesa. The base price is UAH 30 million [US$1.1 million] per kilometer with electrification. Roughly speaking, it's EUR 1 million. In Poland, it costs approximately up to EUR 3 million, including electrification. We have a railway that connects Kyiv and Odesa, along which stretches a state-owned land where we can build for free," he said at a press conference in the European Business Association on November 29.

Read alsoUkrzaliznytsia mulls purchase of 30 GE locomotives to be assembled in UkraineAccording to Omelyan, the cost of the railroad construction will be about EUR 500-800 million.

"Of course, there are differences in heights, and it will be necessary to build trestle approaches. If the average cost of a kilometer [of the railroad] is EUR 1-2 million, then taking into account the length of the route, it will amount to EUR500-800 million. The trains cost additional EUR20-30 million. Now a passenger train can be purchased for EUR 10 million. So, three or four trains will be needed per day," the official said.

The ministry also is considering the possibility of launching a freight traffic in addition to the passenger service.

Read alsoHyundai Rotem renews maintenance deal in Ukraine – media"We have agreed with the EBRD on the preparation of a pre-stability study to make offers to investors. There might be two models: state-private partnership between Ukrzaliznytsia [Ukrainian Railways] and an investor, and the operation of the railway line and cars on a parity basis, or completely parallel private railway company for 99 years," he said.

At the same time, Omelyan noted that a high-speed train ticket could cost UAH 500-700, or US$18.6-26.1.

"I am convinced that the passenger traffic will be sufficient. It will compete with air services because the rail travel from Kyiv to Odesa will take about 2 hours. We can set the ticket price of UAH 500-700, and they [trains] will be filled," he added.