State motorways agency of Ukraine (Ukravtodor) will start this July the repair of a part of Kyiv-Odessa highway (from Kyiv to Bila Tserkva), head of the agency Evhen Prusenko told a press conference, ForUm correspondent reports.

"We start large-scale works on major repair of this part of the road, and only two lanes will be opened for traffic," Prusenko informed.

"Repair of 54 kilometers of this road will cost about 850 million hryvnias, according to the tender, which means one km of the road costs 16-17 million hryvnias," he specified and added that financing will be provided by the European Bank for Reconstruction and Development and European investment bank. 

"According to the credit agreement between Ukraine and EBRD and financial agreement between Ukraine and EIB, these two banks will cover repair work expenses, and Ukraine will cover only VAT and inflation rate," he said.

According to the contract, the works must be finished by the end of 2014.


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