The construction of the Great Ring Road around the capital of Ukraine may be financed with funds from the state budget or international investors. The concession option is also being considered, which means that toll may be charged for using the road.

Information to this effect was provided after a meeting in the Ministry of Infrastructure on accelerating the construction of this road, the CFTS reports.

According to Deputy Minister of Infrastructure Yurii Lavreniuk, the priority issues are currently funding for the project, the level of readiness of the construction project, and the situation involving documentation on land acquisition.

"Three options for financing the construction of the Great Ring Road around Kyiv are being considered: with funds from the state budget, with funds from international investors, or on concession terms. It is necessary to resolve all the problematic issues as soon as possible and start construction of the first phase stage of the Great Ring Road," the deputy minister said.

At the end of the meeting, instructions were issued to submit proposals on ways of resolving the problematic issues to the Ministry of Infrastructure within two weeks.

As reported, documentation for the project indicates that its implementation will cost approximately USD 2 billion. However, the acting head of the State Automobile Road Service (Ukravtodor), Slawomir Nowak, recently said that this project would cost at least EUR 10 billion (USD 11.93 billion at the National Bank of Ukraine’s exchange rate on January 3, 2018).

It was reported that Ukravtodor had already approved a plan for the Great Ring Road around Kyiv.

The road will pass through the following population centers in the Kyiv region:

Deputy Minister of Infrastructure Viktor Dovhan recently announced plans to invite tenders for construction of the Lviv-Krakovets highway concession and the first phase of the Great Ring Road of Kyiv (the Double Kalynivka project) on concession terms in 2018.

Asked for clarification by the CFTS portal, Dovhan said that the "Double Kalynivka” project was the future section of the Great Ring Road that would connect Kalynivka (Makarov district of the Kyiv region) and Kalynivka (Vasylkiv district of the Kyiv region) The length will be 50 kilometers.