Due diligence of Egis launches a modernization project in Kryvyi Rih

On 12th of September, the 10 million euros credit arrangement for the Kryvyi Rih PU City trolleybus aiming the transport system modernization was signed at the EBRD headquarter in Kyiv. A preliminary due diligence of the project was conducted by the Egis.

     According to the conclusions of Egis consultants, upon completion of the project the utility company Elektrotrans will be able to carry out its business activity in such a way as to pay back the credit funds and interest specified in the contract in a timely manner. The funds allocated by the EBRD will be invested in the procurement of 50 new hybrid trolleybuses ".

     The head of the city transport department Sergiy Syrotyuk highlighted: "This is a very important event for us. It will impact the quality of life and will improve the transport system in the city. We spent around 18 months to sign the agreement while other companies can wait three years. Today I’m absolutely positive that the project will be implemented”.

     Egis representative Inna Shum says that “It’s a first Due Diligence project of the company in Ukraine. Our consultants quickly and professionally analyzed all aspects of the PU`s commercial activities and the economic situation in the urban transport sector in general and provided objective conclusions to the bank. This enabled the city to get a loan in the short period of time and start implementing this important infrastructure project".

Project Dossier

Brief note. The Due Diligence project was conducted within the Ukraine Framework Public Transport program of EBRD, where the Egis consultant team is simultaneously implementing two other similar projects in Kharkiv and Lviv, and one project for procurement assistance in Ivano-Frankivsk.