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China ready to invest in new multimodal cargo terminals on the Ukrainian border with the EU

Odessa, Ukraine (PortSEurope) November 12, 2018 – China plans investment in new multimodal freight terminals on Ukrainian territory on the border with the European Union (EU) to transport develop links.

In Beijing , November 8-9, 2018, Deputy Minister of Infrastructure of Ukraine on European Integration, Victor Dovgan, met with Vice Prime Minister of China, Liu Xe, the leadership of the State Development and Reform Committee and the ministries of transport and commerce of China in the framework of the new Silk Road economic transport initiative.

The meeting stressed the need for the development of transit from China to the EU.

The Chinese side noted that this year, 6,500 containers were transported to Austria, and freight traffic on the Trans-Caspian International Transport route is increasing. Planned investment projects for the creation of multimodal terminals on the border with the EU (in Lviv, Kovel and Uzhgorod), said in a statement the Ministry of Infrastructure.

Within the framework of the strategic partnership between Ukraine and China, Beijing informed the Ministry of Infrastructure of the preparation of China Road and Bridge Corporation for the construction of a bridge across the Dnieper near Kremenchuk and a 1-line Odessa-Nikolaev-Kherson road.

The Chinese side also said Chinese National Grain, Olive and Food Corporation was ready to invest up to $30 million ($33.73 million) in Mykolayiv port’s mooring capacity and river logistics.

During the meeting, a loan was announced for the construction of a bridge across the Dnipro near Kremenchuk at a reduced rate of 3% per annum for $340 million ($382.28 million) with a deferred payment for a construction period of four years (to be held after the completion of the project feasibility study).

Source: Ukrainian Sea Ports Authority

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