The Ministry of Infrastructure is considering several options for cooperation with foreign partners on a project for construction of high-speed railways.

Ukraine’s Minister of Infrastructure Vladyslav Kryklyi announced this during a meeting with the director of the Hyundai Corporation’s representative office in Ukraine, Ildong Chang, the CFTS portal reports, citing the Ministry of Infrastructure.

Ukraine is interested in cooperation with the Hyundai Corporation, Kryklyi said. According to him, a partner for implementation of a project for construction of high-speed railways will be selected based on an analysis of the terms proposed. The project requires an integrated approach, particularly on the issues of financing, the period of implementation, and the possibility of financing the preparation of a feasibility studies with grants, the minister said.

Chang expressed interest in implementation of infrastructure projects in Ukraine.

The issues of using rolling stock on high-speed railways and the models for financing infrastructure projects were also discussed at the meeting.

As reported, the board chairman of the Ukrainian Railways joint-stock company (Ukrzaliznytsia), Volodymyr Zhmak, recently said that abolition of the tax that Ukrzaliznytsia pays on the land under its railway tracks and the excise tax that it pays to the State Road Fund and reduction of the company’s costs would enable the company to save USD 310 million, which it could use to purchase new locomotives and carriages.