Chinese consortium to back USD 2.7bn Kiev metro 

12 November 2018 - 12:00 am UTC

A Chinese consortium proposed to build and finance the fourth metro line of Kiev, estimated to cost about USD 2.7bn.

The China Pacific Construction Group (CPCG) and China Railway International have completed the feasibility study and investment cost estimate of the Kiev Metro Line 4 project in the capital of Ukraine, according to a company statement Monday (12 November).

The metro project, designed for a speed of 80km/hour, will be 26.1km in length with 18 stations and two rail yards. About 85% of the financing of the USD 2.7bn project will come from the Chinese consortium with the remaining being contributed from the Kiev city budget, the statement said.

Both the Chinese developers plan to secure concessional loans from Chinese financial institutions, while Ukraine’s Ministry of Finance and the Kiev city government have agreed to provide sovereign guarantees for the project.

The metro line, also known as the Orange Line, is mainly intended to improve the connectivity between the city’s Left Bank districts and the downtown benefitting the 500,000 residents it runs through. The east-west line will start from the Left Bank, running through the city’s Right Bank in Podil and the central railway station, and ending at the Kiev International Airport.

The long-awaited project will have interchange stations with the Blue Line at Taras Shevchenka, the Green Line at Lukianivska, and the Red Line at the central rail station.

Construction will commence after the completion of the Podilsko-Voskresensky Bridge connecting Podil on the right bank with Raiduzhnyi masyv on the left bank. It will take five years for completion.

The two-level and 7 km (4 miles)-long bridge is intended to carry part of the future Podilsko-Voskresenska Line of the Kiev Metro and three lanes of road traffic in each direction, connecting the central Podil neighborhood to the left-bank parts of the city.

Private sector builder CPCG and China Railway International, an overseas-focused unit of China Railway Group, in November last year signed an agreement with the Kiev government to collaborate on Metro Line 4 project. However, the finance and the execution process have not been determined yet. The deal marks one of the first partnerships between a private-sector builder and its state-owned peer in Belt and Road transport project.

Japan’s Itochu and Bouygues Travaux Publics from France had previously shown interest in the project, according to the Ukrainian government.

So far, Kiev has three metro lines with a total length of more than 67km and 52 stations. It carries close to 1.5 million passengers every day.

 

 

Read More