Study on Economic Partnership Projects. in Developing Countries in FY2010. Study on the Kiev Metro Line 4 in Kiev City, Ukraine SUMMARY.

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1 Study on Economic Partnership Projects in Developing Countries in FY2010 Study on the Kiev Metro Line 4 in Kiev City, Ukraine SUMMARY March 2011 第 1 章 第 2 章 The Ministry of Economy, Trade and Industry Prepared by: Ernst & Young ShinNihon LLC Japan External Trade Organization (JETRO) Oriental Consultants Co., Ltd.

2 (1) Background and Necessity of the Project Kiev city has an area of about 830 km² (1.3 times the area of 23 Wards in Tokyo) and a population of around 2.7 million inhabitants. It is the hub of political and economic activities in Ukraine. It is estimated that the population of the city will be increased to 2.8 million by Recent tendencies in population growth show expansion to the east of the Dnipro River, which is the proposed location of Kiev Metro Line 4. The provision of transportation infrastructure to this area has become an important issue. The construction work on the section of the road/rail combined bridge commenced in 2004 and is scheduled for completion in 2016, however, this schedule has been delayed due to the collapse of the national economy in Because of this, Kiev Metro decided to request the Japanese side to conduct a study on Kiev Metro Line 4 in order to receive financial support. (2) Reviewing Necessary for Components of the Project Kiev city prepared and approved the Kiev Master Plan (2020) in Also, this Project was listed in the National Development Program for Subway Construction ( ) in 2006 and was approved as a high priority national plan. The new Metro Line 4 was accepted based on an increase in transport demand between the Central Business District and the Troieshchyna residential area, this new route incorporates part of Line 5 into Line 4, and it was approved by the Kiev Subway Network Scheme in (3) Outlines of the Project Plan The Study Team recommended dividing the scope of the Project into 2 phases: Phase 1 and Phase 2. Outlines of the Project plan for the recommended phases are summarized as follows:

3 (Table-1) Outlines of the Project Plan 1. Track Gauge 1,520 mm 2. Route Phase 1: Vulytsia Myloslavska Station ~ Podilska Station Phase 2: Podilska Station ~ Hlybochytska Station 3. Route Length Phase 1: Approx. 12km. Phase 2: Approx. 2km. 4. Number of Stations Phase 1: At grade - 5 stations, Elevated - 1 station, Underground - 2 stations. Phase 2: Underground - 1 station. 5. Demand Forecast (maximum section) Sudnobudivna Station ~ Podilska Station Number of Passengers Per Day in Maximum Section (person/day) 553,870(2015)/ 567,493(2020) Peak Hour Peak Direction Traffic (PHPDT) 62,775(2015)/ 64,660(2020) 6. Headway 2 minutes (2015 at the start) 1.5 minutes (after 2020) 7. Train Composition Initial Stage: 6 cars (4M + 2T) Ultimate Stage: 6 cars (4M + 2T) 8. Number of Rolling Stock Required Phase 1: 144 cars (24 trains) Phase 2: 72 cars to be added (36 trains) 9. Train Power Control System VVVF Inverter Control 10. Location of Depot and Workshop (Rate for investment in maintenance equipment) Depot Troieshchyna Phase 1: 42% Phase 2: 58% (4) Environmental and Social Considerations The EIA of the Project has already been done and reviewed in compliance with Ukrainian laws, rules and regulations. It was approved by related ministries, authorities, and finally the CMU (Cabinet Ministers of Ukraine) in March Matters to be completed by Kiev City to realize the Project are as follows: For land acquisition and resettlement of inhabitants and real estate, Kiev City (Kiev Metro owner and operator) shall promptly complete land acquisition without involuntarily resettlement in compliance with Kiev City s land acquisition plan. Prior to commencement of the construction, Kiev City shall prepare environmental management and monitoring plans to be used during construction and operation of the new Kiev Metro Line in order to obtain approvals from related authorities and stakeholders.

4 Kiev City shall hold public consultations and hear the public s and stakeholders comments and opinions to reflect their comments and opinion on design, construction and operation. (5) Project Cost Estimate The Project cost for at grade structures, viaducts, underground structures, depots and other related facilities is estimated based on construction methods and Project quantities. An estimation of unit cost for each construction work is applied in order to compare with similar projects in India, Indonesia, Thailand, Bulgaria and other foreign countries. (Table-2) Project Cost (Phase 1 + Phase 2) (Table-3) Project Cost (Phase 1)

5 (Table-4) Project Cost (Phase 2) (6) Project Implementation Schedule Alternative-1 is that the Phase 1 section construct firstly including accomplishment of construction works and test running in the year 2015, and Phase 2 construction is planned to start after the commencement of the Phase 1, planned to be completed in Alternative-2 is planned that the construction of the entire section of Phase 1 and Phase 2 will be completed in Phase 1: The section from Vulytsia Myloslavska Station to Podilska Station (approx. 12km) and the Depot Troieshchyna. Phase 2: The section from Podilska Station to Hlybochytska Station (approx. 2km) and the expansion of the Depot Troieshchyna. (Table-5) Project Implementation Schedule Alternative Phase 1 SAPROF Study Conclusion of L/A Selection of Consultant Preparation of Tender Document Selection of Contractors Detailed Design by Contractors Civil Works Station Facilities E & M Works Depot and Workshop Works Rolling Stock Works Test and Commissioning Operation Phase 2 Construction and Operation

6 Alternative-2 Phase 1 SAPROF Conclusion of L/A Selection of Consultant Preparation of Tender Document Selection of Contractors Detailed Design by Contractors Civil Works Station Facilities E & M Works Depot and Workshop Works Rolling Stock Works Test and Commissioning Operation Phase 2 Construction and Operation (7) Economic and Financial Analysis The value of economic internal rate of return (EIRR) obtained 18.4% for Alternative 1 and 15.7% for Alternative 2, which are over the 10% of opportunity cost that is conceived as an opportunity cost of capital in Ukraine. EIRR values in this economic evaluation exceed this level. The above results of the cost benefit analysis show that the Project is economically feasible. The value of financial internal rate of return (FIRR) without interest cost does not show any viable results. To ensure enough cash flow for a sound financial basis, the subsidy required is UAH 135,063,000 (million JPY 1,427) and the Metro fare must be raised to UAH 2.9. (8) Feasibilities of the Project Implementation under Japanese Yen Credit Although this Project was originally planned to be implemented by the Ukrainian government and Kiev city, the construction schedule substantially fell behind due to the national economy failure in While the economic situation is showing signs of recovery, considering the urgency of this Project, Kiev city wishes to request Japanese Yen Credit.

7 (9) Project Location Map (Figure-1) Project Location Map Line 2 Study Route Line 4 Line 3 Line 1