Ukraine to invest record 650 mln USD in railway upgrade in 2018

KIEV, Feb 8

The Ukrainian government will invest about 650 million U.S. dollars this year, a record sum in 10 years, to upgrade the railway infrastructure, Infrastructure Minister Volodymyr Omelyan announced on Tuesday.

Part of the money will be used to buy 30 General Electric locomotives and 30 new passenger railcars, as well as for the modernization of 226 existing passenger railcars.

Part of it will go into the production of 3,600 freight railcars and the modernization of about 10,000.

The state-run Ukrainian Railways also plans to launch six major projects this year worth 360 million dollars to reconstruct and electrify rail lines.

Last year, the company released plans to attract about 6 billion dollars by 2022 for the modernization drive.

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