ROAD INDUSTRY WILL OBTAIN ABOUT UAH 47 BLN FUNDING IN 2018 – OMELYAN » Ukraine open for business

Business news from Ukraine

ROAD INDUSTRY WILL OBTAIN ABOUT UAH 47 BLN FUNDING IN 2018 – OMELYAN

3 Jan , 2018  

The Ukrainian road industry in 2018 will receive about UAH 47 billion of financing due to the launch of the State Road Fund and additional sources, Ukrainian Minister of Infrastructure Volodymyr Omelyan has said.
“The Road Fund starts its work on January 1. For the first time the road industry will receive government-guaranteed financing. This year this is almost UAH 33 billion plus separate additional funding for a number of key highways for more than UAH 14 billion,” he wrote on his Facebook page.
In addition, the minister noted that from January 1 Ukravtodor will be responsible only for 50,000 km of roads, the remaining 120,000 km are transferred to the balance of regions with guaranteed financing from the road fund in the amount of 35% of its revenues.
“Now everyone has the right and should demand quality roads from the local authorities, rather than nodding disappointedly at Kyiv,” Omelyan said, noting that from January 1, 2018 the speed in settlements is limited to 50 km/h.
The minister added from January 1 fines are significantly increased. The fine for driving without a license will rise by 20 times, to UAH 10,200, and for a repeated violation some UAH 40,800. Persons deprived of the right to drive, violating the law, will pay a fine of UAH 20,400, and for the repeated violation during the year some UAH 40,800.