The EBRD awarded Novarka the contract after a competitive tender, Shufrich said. A construction contract between Novarka and the Ukrainian government will be signed “within a week after Sept. 17.if everything goes to schedule,” he added.

The EBRD opened the tender in 2004. A competing joint bid from US CH2M Hill and Ukrainian Interbudmontazh lost out as its offer to do the job cost $584 million, according to the report.