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UPDATE 1-Ukraine signs $950 mln China loan for railway link
September 3, 2010 / 10:55 AM / 7 years ago

UPDATE 1-Ukraine signs $950 mln China loan for railway link

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KIEV, Sept 3 (Reuters) - Ukraine has secured a $950 million loan from China to build a railway link between Kiev and the capital’s main airport and has hired a Chinese company for the project, Chinese and Russian media said on Friday.

Ukrainian President Viktor Yanukovich signed the loan agreement on a visit to China that began on Thursday. It is the first trip to China by a Ukrainian leader.

During the visit “an agreement was ... signed securing China’s credit support to a 30-kilometre railway project and construction of auxiliary facilities for an airport in Ukraine’s capital, Kiev,” the English-language website of China’s People’s Daily said, quoting the China Daily newspaper.

“The railway project, contracted to a Chinese firm, will cost $950 million and construction will begin next year,” it said, adding that the project would take three years to complete.

Russia’s Interfax news agency quoted Ukranian official in charge of the project, Vladyslav Kaskiv, as saying that Ukraine would be able to finance the full cost of the project using the loan.

There was no mention of the rail deal in the joint declaration signed between China and Ukraine, a copy of which was posted on the Chinese Foreign Ministry’s website (www.mfa.gov.cn).

Government officials in China could not be reached for comment on the deal. (Writing by Olzhas Auyezov; Additional reporting by Ben Blanchard in Beijing)

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