Chinese Consortium To Manage Project For Construction Of Fourth Subway Line In Kyiv

22 May 2017 15:33

The Kyiv municipal administration and a Chinese consortium that includes the China Railway International Group and the China Pacific Construction Group have signed a memorandum on cooperation on implementation of a project to build the fourth subway line in Kyiv.

The Kyiv municipal administration’s deputy head Mykola Povoroznik signed the memorandum on behalf of Kyiv during a visit to China by a Ukrainian government delegation, the municipal administration announced.

"The consortium acts as a managing partner with extensive experience in the field of infrastructure construction. Experts from the Chinese side will study the current state of the project for construction of the fourth subway line in Kyiv and consider technical details, financial resources, and the legal way to finally implement the project," Povoroznik said

The study will also include assessment of the legal and financial viability of the project, including feasibility studies and cost estimates.

According to the document, the consortium of Chinese companies may act as a contractor working under the EPC (engineering, procurement, and construction) model and implement projects under the EPCF (Engineering, Procurement, Construction, and Finance) model. The consortium is expected to help the Kyiv municipal administration to attract funds from Chinese financial institutions.

As reported previously, Kyiv will allocate more than UAH 600 million for financing construction of a bridge to the Troeschyna residential district.