You're reading: Dnipropetrovsk city council agree to take municipal ownership of Dnipropetrovsk Metropoliten

Lawmakers of Dnipropetrovsk city council at an extraordinary session on Thursday decided to take municipal ownership of Dnipropetrovsk Metropoliten state-run company.

Dnipropetrovsk Deputy Mayor Volodymyr Medvedchuk told the press that the decision was needed to start a procedure for the transfer of the company to the city by the Infrastructure Ministry.

"We take municipal ownership of subway and continue building it," he said.

Medvedchuk also confirmed that the executive committee of Dnipropetrovsk city council plans to raise a loan of EUR 230 million to build the subway from the European Bank for Reconstruction and Development.

"Today talks are underway. We don’t rule out that in Q1, 2012 we could sign documents to obtain a first tranche," he said.

Dnipropetrovsk Metropoliten exploits an eight-kilometer subway with six stations.