Ukravtodor planning to rehabilitate 20% of main road network in 2021

Ukravtodor planning to rehabilitate 20% of main road network in 2021

Ukraine’s State Agency of Automobile Roads (Ukravtodor) intends to rehabilitate 20% of Ukraine's main road network as part of the Great Construction project in 2021.

Ukravtodor Head Oleksandr Kubrakov stated this during the All-Ukrainian Forum ‘Ukraine 30. Infrastructure’ on February 23, an Ukrinform correspondent reports.

He noted that Ukravtodor considers the possibility of attracting additional financial sources for this purpose. In particular, such sources include fare payments for transit trucks, public-private partnerships, loans under state guarantees (UAH 20 billion) and infrastructure bonds (UAH 60 billion).

According to Kubrakov, Ukravtodor has been raising funds under state guarantees since last year, but large projects require cheap long-term loans, which are not yet available in Ukraine. As a result of previous consultations with the government, the President’s Office and MPs, a mechanism for long-term financing for infrastructure bonds was chosen.

"We will create a joint-stock company in the structure of Ukravtodor, it will be engaged in attracting long-term financing," Kubrakov said.

According to him, the relevant work is already underway with the Finance Ministry and the National Bank.

As reported by Ukrinform, President Volodymyr Zelensky during the All-Ukrainian Forum "Ukraine 30. Infrastructure" on February 22 said that 4,000 km of public roads and 2,500 km of local roads will be rehabilitated under the Great Construction project in 2021.

The Great Construction national project was initiated by President Volodymyr Zelensky in autumn 2019. The purpose of the project is to build the necessary infrastructure facilities throughout Ukraine. On March 1, 2020, construction works on more than 300 sites began simultaneously.


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