A consortium of two Chinese companies, China Pacific Construction Group and China Railway International Group, signed a cooperation agreement with the city of Kyiv on building the fourth metro line in the Ukrainian capital. Under the cooperation agreement, the Chinese consortium will build a metro line with a length of about 20 kilometers linking Kyiv residential district of Troyeschyna with the central business district. The agreement follows a Memorandum of Understanding signed by the two sides in May.
Consisting of 13 stations, the line is set to reduce traffic jam in Kyiv. The project is expected to start at the end of 2018 and finish within four years. The Kyiv administration will provide 15 percent of the total of approx. USD 2 billion estimated for the project. The city hopes to attract the rest of the sum as a loan from Chinese financial institutions under the Ukrainian government guarantees.
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