Ukraine, Korea discuss cooperation in development of high-speed rail

Ukraine, Korea discuss cooperation in development of high-speed rail

Ukrinform
The Ukrainian side is interested in cooperating with the Export-Import Bank of Korea with the support of the Government of the Republic of Korea in the development of high-speed rail if favourable financial terms of cooperation are offered.

Minister of Infrastructure of Ukraine Vladyslav Kryklii said at a meeting with representatives of Hyundai Corporation on October 27, Ukrinform reports with reference to the Ministry’s press service.

The Minister expressed readiness to deepen relations and implement a joint project to develop high-speed rail "if favourable financial terms for future cooperation are offered."

"Over the past few months, we have been in constant dialogue with the Hyundai Corporation representatives on possible formats of cooperation and procedures for concluding the necessary agreements. Therefore, we expect a positive decision from the Korean government," Kryklii said.

The Ministry reminded that the “High-Speed Network” project envisages the construction of new infrastructure for high-speed rail, depots and traction substations, as well as the purchase of 39 units of rolling stock of high-speed network worth $1.3 billion.

According to preliminary estimates, the total length of the tracks to be built exceeds 2,000 km, and the potential number of passengers carried is 5 million people per year.

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