KYIV. Nov 23 (Interfax-Ukraine) – Kyiv Mayor Vitali Klitschko and Vice Chairman of China Pacific Construction Group Guo Qing have signed an agreement on cooperation between Kyiv City State Administration and the Chinese consortium, which includes China Railway International Group Co., Ltd and China Pacific Construction Group, in implementing the project for the construction of the fourth metro line in Kyiv.
Klitschko wrote on his Facebook page the agreement provides for setting up a working group of Ukrainian and Chinese specialists who will develop the best technical and financial solutions for the implementation of the project.
The cost of construction is estimated at $2 billion, while 85% of the projected cost of the project will be secured at the expense of a loan from Chinese financial institutions.
“The possibility of attracting this loan is being considered with the provision of state guarantees for repayment of the loan funds. The loan repayment period is from 15 to 20 years. At the same time, the interest rate will be the subject of negotiations,” the mayor said.
The project foresees the construction of a new subway line with a length of almost 18 km with 13 stations. A transfer station will also be built between the ring train line and the new fourth subway line. The expected construction period is five years.
