The Ukrzaliznytsia public railway company will sign memoranda with Ukrainian companies, Ukrzaliznytsia’s Board Chairman Wojciech Balczun announced in an interview with the Polish newspaper Rynek Kolejowy.

"We will also sign similar bilateral agreements also with Ukrainian companies. This country (Ukraine) has its own major enterprises for production and modernization of rolling stock," Balczun said after signing a memorandum with the Polish company Pesa.

According to the head of Ukrzaliznytsia, Ukrainian companies can compete on the market, but this requires them to find new solutions. "I think that all companies that want to survive in competitive conditions on the market have to change. They need to look for solutions that keep pace with the present. In this regard, Ukrainian companies are far from being behind," Balczun said.

Balczun also said that Ukrzaliznytsia is currently preparing a large investment plan that will be implemented over several years. "We are preparing a very large investment plan that is unprecedented in scale of Ukrzaliznytsia," Balczun said. He did not disclose the details and date of publication of the document.

According to Balczun, implementation of this plan will be financed with fund from domestic and external sources.

As Ukrainian News earlier reported, Balczun signed memoranda of cooperation with the companies Siemens (Germany) and Pesa Bydgoszcz (Poland) on 21 September. Ukrzaliznytsia recently signed memoranda with a number of foreign companies, including Bombardier (Canada), General Electric (United States), NEWAG and PKP Energetyka (Poland).