The Ukrzaliznytsia public railway company will invest UAH 5.6 billion in upgrade of rolling stock (purchase of new and upgrade of existing) in 2016. Ukrzaliznytsia announced this in a statement, citing its financial plan approved by the Cabinet of Ministers.
Ukrzaliznytsia plans to use UAH 875.2 million in funds from international financial institutions to purchase 1,100-1,300 gondola cars. In addition, it plans to use UAH 1.6 billion of its own funds to purchase rolling stock, including 31 passenger cars, 270 freight cars, and 55 pieces of track equipment.
It plans to spend UAH 3.577 billion on modernization fixed assets, including modernization of freight cars, passenger cars, and locomotives and UAH 3.024 billion on modernization of track equipment and other rolling stock (including UAH 2.926 billion of its own funds).
According to Ukrzaliznytsia’s acting Board Chairman Yevhen Kravtsov, the total volume of capital investments for this year will be almost UAH 11.2 billion, including UAH 9.5 billion of its own funds.
He also expressed the hope that Ukrzaliznytsia will be able to obtain loans from the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) for financing electrification of priority railway routes, particularly the Dolynska-Mykolaiv railway section.
