"The Chinese CITIC Construction Co., Ltd is ready to invest $15 billion in Ukraine’s construction market, which will help solve the problem of affordable housing in the country...” the ministry said Thursday in a statement.
The project is aimed at meeting the country’s public housing policy, of forming a social housing fund and building affordable homes and improving the infrastructure.
Ukraine will implement a pilot $1 billion project to build affordable housing where CITIC will act as the general contractor.
READ MORE: Ukraine gets $8bn investment from China
Earlier in March head of Ukraine’s Ministry of Regional Development Gennady Zubko said the country was in talks with China over attracting investment to implement a program of renting real estate with an option of further acquisition. The amount of investment and the terms wasn’t specified.
Financial arrangements with China traditionally require the fulfillment of a number of conditions, such as involving a workforce and technology from China.
In spring 2011 Ukraine and the Export-Import Bank of China signed an agreement to build a high-speed railway line between Kiev and Borispol International Airport, as well as the $2 billion of infrastructure projects in the Kiev region. Construction hasn’t begun, as not all the terms of the financing have been agreed.
No comments :
Post a Comment