European Investment Bank could lend EUR 160 mln to Kharkiv subway for 3.5km extension

The European Investment Bank (EIB) could lend EUR 160 million to the city of Kharkiv for a 3.5 kilometer extension of the Oleksiivska subway line and the construction of the Derzhavynska and Odeska stations, according to the EIB`s website.

The total cost of the project is EUR 320 million. At the same time, the EIB noted that the project implementation plan is under appraisal since the extension of the metro line may require temporary relocation of some enterprises and households.

The project will improve the public transport system in Kharkiv and reduce the negative impact of car transport on the environment, the EIB said.

At the same time, the allocation of the funds will be possible only after the negotiations on the project are completed and the EIB Board of Directors approves it.

Earlier, the European Bank for Reconstruction and Development (EBRD) had started design works for the construction of the Odeska metro station as part of the agreement on foreign investment in the development of the Kharkiv metro.

Memo. The Kharkiv metro is the second in Ukraine in terms of number of stations and the length of lines. It transports 282 million passengers annually. The metro system was put into operation on August 23, 1975. The total length of its lines is about 35.6 km. Currently, the Kharkiv metro has 29 stations, which are located on three lines: Kholodnohirsko-Zavodska, Saltivska, and Oleksiivska.

November 11, Ukraine`s Cabinet of Ministers approved a project worth UAH 2.657 billion, or US$100.53 million, for preparation of blueprints and feasibility study of the extension of the third Kharkiv metro line from the Metrobudivnykiv imeni G. I. Vashchenka station to the Odeska station.

The construction is due to commence this year. The project is expected to be completed in 2019. 

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