KIEV, Nov. 2 – Cost estimates on extension of the Kiev city orbital road from Stolychne Shose to Kiev-Kharkiv-Dovzhansky highway (M-03) on the Kiev-Boryspil section on concession terms, have been halved compared to the previous EUR 1 billion, to EUR 428 million, aftern a feasibility study of the project.

"This project is a great event for Ukraine. It will help to develop the infrastructure of the region. This is the first attempt to implement a concession project that must be implemented within the next five years," State Agency for Investment and National Projects head Vladyslav Kaskiv said.

According to Kaskiv, the implementation of the project will facilitate traffic across Kiev for 20,000 vehicles per day, of which 11,000 would be trucks, and will save at minimum 20 minutes for drivers.