You're reading: Ukrzaliznytsia plans to attract EIB to financing renewal of suburban rolling stock

Ukrzaliznytsia is considering the possibility of attracting the European Investment Bank (EIB) to participate in the renovation of suburban rolling stock.

The press service of the company reported, with reference to acting board chairman Yevhen Kravtsov, the matter concerns the acquisition of new trains since the modernization of worn-out rolling stock is inappropriate. In conditions of unprofitable suburban transportation and a low level of compensation of funds by local authorities, it is supposed to involve local authorities in solving the problem.

“Our open position and frank dialogue, for example, as in the case of raising freight tariffs or conducting wagon deregulation, give a positive result. Our partners understand our reasoning, therefore we find effective mechanisms to meet the needs of customers. The same thing is with suburban transportation. In cooperation with the local authorities and international financial institutions we hope for the result, which millions of passengers are waiting for,” Kravtsov said.

He also said that the EIB will present to the local authorities in different regions several forms of probable cooperation on updating trains for suburban traffic. These options provide for the possibility of updating in general up to 70 percent of all trains providing suburban railway transportation in a separate region.