Ukraine Plans To Invest 11.4 Bln USD In Road Infrastructure By 2023

The Ukrainian authorities plan to invest about 11.4 billion U.S. dollars in the road infrastructure by 2023, local media reported Thursday

KIEV, (APP - UrduPoint / Pakistan Point News - 11th Jan, 2018 ) :The Ukrainian authorities plan to invest about 11.4 billion U.S. Dollars in the road infrastructure by 2023, local media reported Thursday, citing a government plan to upgrade roads.

The government's Conception of Road Infrastructure Development, which was published by the RBC-Ukraine online media outlet, said that about 55 percent of the sum will be allocated from the state budget.

Within the next five years, the Ukrainian authorities plan to modernize some 9,100 km of highways and build or completely renovate about 1,000 km of other roads. The document said that the roads modernization will spur the Ukrainian economy, boost the country's transit potential and create 55,000 jobs.

According to the Ukrainian traffic authorities, the East European country has about 170,000 kilometers of roads, with more than half of them are in need of major renewal. Last year, two Chinese companies, the private Xinjiang Communications Construction Group Co Ltd.

and the state-owned Sinohydro Corporation Ltd won tenders to modernize three key highways in western, northern and central Ukraine. The road upgrading projects carried out by the Chinese companies will start later this year.