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23 december 2021
4 min.

INGO has insured construction of a bridge in Kremenchuk for UAH 5.4 billion

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INGO Insurance Company has insured the construction of a bridge in Kremenchuk, Poltava region, as well as a bypass section of the H-08 road near the city.

According to INGO expert Oleksandr Plutayev, the construction of such large infrastructure projects occurs rarely, so two new bridges – Zaporizhzhya and Kremenchuk – can be considered significant for the state as a whole.

"Although we have insurance contracts in our portfolio for the reconstruction of roads, which may include works on the small bridge crossings, but the insurance of construction of this scale is for the first time for INGO. Therefore, this agreement is a contender for the title of "Agreement of the Year", – he adds.

Two insurance companies insured the Kremenchuk bridge in collaboration at once, while INGO provides 60% coverage. According to Oleksandr Plutayev, this format of insurance is a common practice for large facilities. Thus, the construction company differentiates its risks.

The total sum insured, for which the Kremenchuk bridge crossing and the road section is insured, is UAH 9.05 billion. The contract covers the construction and installation works, equipment and third-party liability for the damage caused in the course of work.

The insured is the Turkish construction company Dogus Insaat Ve Ticaret A.S., which has been building the facilities of various scales in Turkey, Qatar, Oman, Bulgaria, Morocco, as well as in Kazakhstan, Saudi Arabia and India for over 70 years. In Ukraine, the company has completed several projects, including Terminal D at Boryspil Airport and Darnytskyi Bridge in Kyiv.

According to Dogus Insaat Vice President, Serkan Misirlioglu, the insurers were selected for such an important facility based on previous experience in Ukraine.

“Firstly, INGO has a sufficient level of expertise in dealing with risks of this scale. Secondly, they have reliable reinsurance and, in the end, we are confident that we can rely on the experienced specialists of the insurer and its partners", said Mr. Serkan Misirlioglu.

In addition, Dogus insured its employer’s liability for the sum insured amounting to almost 67 million hryvnias. Both Turkish and Ukrainian specialists will be involved in the construction of the bridge.

The bridge in Kremenchuk is of national importance. Today, the Dnipro River in Kremenchuk can only be crossed by the Kryukivsky Bridge, which was built almost 150 years ago. The roads of state importance M-22 Poltava - Alexandria, H-08 Boryspil - Mariupol run through the bridge. And the nearest road bridges, which meet the conditions of modern traffic, are within a radius of 500 km.

Ukravtodor calls it a demonstration project. The planned length of the bridge is 1.7 kilometers. The building will have four lanes, two in each direction. The design must take into account modern world approaches to the design and construction. 95% of the materials used for the construction are made in Ukraine. It is expected that this will burden Ukrainian metallurgy, mining and processing.

The construction works on the Kremenchuk Bridge project have already commenced. The Turkish company Dogus delivered equipment, built a construction site and built a concrete plant. The installation of the pier is currently being completed. A large-scale construction will start next year. It is planned to build the Kremenchuk bridge in three years.