Business news from Ukraine

Concorde Capital to carry out large-scale reconstruction of Kyiv Bus Station

25 April , 2024  

Investment company Concorde Capital is implementing a project to reconstruct the Kyiv Bus Station, located near the Central Railway Station (Vokzalna Metro Station), better known as the Yama, Concorde Capital founder Igor Mazepa said on Wednesday.

“My colleagues and I came up with an idea, why don’t we go in… take a closer look at the transportation market from the investment point of view… At Concorde, we decided to enter this market through infrastructure projects… (to start) with the reconstruction of the well-known Kyiv bus station, which is located in the city center near the railway station,” Mazepa said during a video presentation at the conference “Reforming Passenger Bus Transportation in Ukraine.”

According to the investment company, the passenger flow of this station is about 10 thousand people per day, plus or minus 400 bus trips.

Mazepa noted that the central bus station, in fact, was “in a terrible state” until recently.

“Now our task, our mission, is to carry out a human reconstruction in accordance with European standards. I can assure you that you will soon see the changes that will take place there,” Mazepa said.

At the same time, the founder of the investment company noted that the reconstruction would require significant capital investments.

“We are not afraid of this and we can guarantee that our customers and passengers will soon receive the highest quality service. Of course, we will ask that such services be paid for fairly,” Mazepa said.

According to Igor Sotnyk, director of Concorde Capital’s investment banking department, the reconstruction of the bus station is planned in two stages. The first stage, which separated bus and car traffic, has already been completed. The second stage involves work on the improvement of the bus station building in accordance with the concept that is currently being developed.

“We are now finalizing the mix of tenants who will be present there according to the needs of passengers. There will be a waiting area, a food court, a high-comfort zone, a children’s room, a first-aid post, and commercial premises,” Sotnyk said, adding that a working draft will be prepared after the concept is finalized.

In addition, the possibility of creating services for carriers – service stations and car washes – is being considered. The technical possibilities for their placement are being studied.

Sotnyk also said that the exact timing of the start of work will be known after the working documentation is ready, but expressed hope that this could happen in early 2025.

Mazepa estimated the legal road transportation market in Ukraine at almost UAH 7 billion. According to him, taking into account illegal transportation and those from which taxes are not paid, the real size of the market is “many times larger.”

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