Ukrainian Railways to help restore over 400 km long railroad corridor in Moldova
MOSCOW. June 1 (Interfax) - JSC Ukrainian Railways will take part in a project to restore a railroad corridor more than 400 km long in Moldova as part of efforts to boost agricultural exports from Ukraine.
The Ukrainian company has signed a relevant memorandum with the Moldova Railways state company, Ukrainian media said on Wednesday, citing the Ukrainian Railways press service.
"The signing of the memorandum is the next step in our cooperation that will help broaden the logistics capabilities between countries and enlarge export potential. It is also the first example of implementing a major joint project between partner countries that is financed by international institutions," the press service quoted Ukrainian Railways CEO Yevgeny Lyashchenko as saying.
The railroad project is being implemented as part of the Solidarity Lanes initiative, has the European Commission's backing and envisions restoring the Valcinet-Ocnita-Balti-Ungheni-Chisinau-Cainari railroad, which is more than 400 km long. Financing for the project is being provided by partners and international financial institutions. The deadline for its implementation is the end of 2024.
"Restoration of infrastructure will help increase the throughput capacity of this railroad section and will make train services faster, thus raising the quality of cargo transportation," Moldova Railways general director Oleg Tofilat was quoted as saying by the press service.
Ukraine has necessary equipment and highly professional personnel who can tackle infrastructural projects of any complexity promptly and to a high standard, Tofilat said.
Ukrainian and Moldovan railroad specialists already have a successful record of cooperation in infrastructural projects, Lyashchenko said. For instance, Ukrainian specialists helped their Moldovan colleagues rebuild a section as part of a project to restore the Berezine-Basarabeasca railroad. This work was done within a record short period of time.
Ukraine and Moldova are members of the Trans-European Transport Network (TEN-T), a European Union project intended to create a Europe-wide network of motorways, railroads, airports and waterways, connecting different parts of Europe from west to east and from north to south.
As reported, the European Bank for Reconstruction and Development approved a loan of 23 million euros that will be used by Moldova Railways (Calea Ferata din Moldova) to finance the restoration of two railroad sections: Valcinet-Balti-Ungheni and Chisinau-Cainari of Moldova's North-South railroad corridor. The project will also receive an EU investment grant of 20 million euros via the rapid response component of the Neighborhood, Development and International Cooperation Instrument-Global Europe (NDICI - GE). Moldova Railways will contribute 71 million euros to the project.