Preliminary Investment Feasibility Study
Project Status
Investment Feasibility Study
Entry into Portfolio
Local level of SP
Implementation
Completion
- General information
- Strategic Case
- Economic Case
- Commercial Case
- Financial Case
- Management Case
- Summary
General information
Description of the project
The reconstruction of the Kremenchuk Museum of Local Lore — is one of the most anticipated cultural projects of the city. Since the museum building was built in 1916, the main task of the reconstruction is not only to update, but also to preserve its historical appearance with adaptation to modern museum standards.
The purpose of the project
Main Goal:
Increasing compliance with modern standards
Secondary Goal:
Improving the condition of infrastructure, Ensuring inclusiveness and equal opportunities, Improving the quality of services, Meeting demand
Description of the purpose of the project and ways to achieve it
The project involves a comprehensive approach to the reconstruction of the building. The main areas of work include: restoring the technical condition and authentic appearance of the building, creating modern exhibition halls with professional lighting and a microclimate for storing valuable artifacts, arranging special storage facilities where exhibits will be protected from moisture, dust and temperature changes, installing ramps, lifts or elevators to make the museum accessible to people with disabilities and parents with wheelchairs, and introducing modern technologies to attract young people.
Problems and solutions resulting from project implementation
Before the active phase of reconstruction began, the museum faced a number of critical problems:
The building’s dilapidated condition: Worn-out communications, a leaking roof, and cracks in the walls threatened the safety of visitors and the integrity of the collection.
Inadequate storage conditions: Due to the lack of ventilation and stable temperatures, ancient books, clothing, and documents began to deteriorate.
Obsolescence: Traditional “quiet” halls no longer met the needs of a modern visitor seeking interaction and interesting content.
Limited access: The old architecture did not provide for conditions for people with limited mobility.
After the reconstruction is complete, Kremenchuk should receive not just a renovated building, but a modern cultural hub:
Increased tourist flow: The renovated museum will become a key point on the tourist route of Poltava region.
Heritage preservation: Thanks to new security and climate control systems, unique museum collections will be preserved for centuries.
Educational Center: The museum will become a venue for lectures, workshops, and patriotic education of youth in comfortable conditions.
Aesthetic renewal of the city center: The restored building on Igor Serdyuk Street will regain its status as a cultural gem of Kremenchuk.
Socio-economic context
Indicator
Value
Number of people who will use the service
50000 human
Number of jobs, including for IDPs
29 workplaces
Strategic Case
Strategic feasibility of the project
Sector
Culture and information
Subsector
Cultural Heritage and National Memory
Stream
Repair, reconstruction, restoration of the existing network of cultural institutions
Strategic document
Стратегія розвитку територіальної громади
Task
D.2.2. Creating cultural spaces for development
Project objectives
Project objectives were not specified by the initiator
Project Sustainable Development Goals
Demand for the service and its dynamics
What methodology was used to estimate demand?
Аналіз звернень за наданням відповідних послуг
[Response was provided in the Preliminary Investment Feasibility Study]
Has data from external sources been used in the demand assessment?
No
[Response was provided in the Preliminary Investment Feasibility Study]
Does the demand forecast take into account the latest demographic and economic forecasts?
No
[Response was provided in the Preliminary Investment Feasibility Study]
Indicator
Year
Demand
Annual demand for services/infrastructure
1
50000 human
Economic justification
Analysis of the project's impact on ecology and climate change
Does the planned activity have a potential positive contribution to achieving climate or environmental objectives?
Climate change adaptation
[Response was provided in the Preliminary Investment Feasibility Study]
Is the proposed project expected to significantly harm any of the following climate or environmental objectives?
None of the options are applicable
Does the planned activity have a potential positive contribution to achieving climate or environmental objectives?
Climate change adaptation
[Response was provided in the Investment Feasibility Study]
Is the proposed project expected to significantly harm any of the following climate or environmental objectives?
None of the options are applicable
Have the greenhouse gas emissions or emission reductions (Scope 1-2) associated with the project been calculated for a typical year and the entire project period?
No
[Response was provided in the Investment Feasibility Study]
Does the project require an environmental impact assessment (EIA) in accordance with the Law of Ukraine "On Environmental Impact Assessment"?
Conducting an EIA is not required.
[Response was provided in the Investment Feasibility Study]
Project sustainability and inclusivity
Identify potential gender risks of the project and indicate possible ways to overcome them:
None of the options are applicable
Does the project provide for improving women's access to services?
The project will improve women's access to education (primary, secondary, vocational)
[Response was provided in the Preliminary Investment Feasibility Study]
The project will create jobs available to women (temporarily or permanently)
[Response was provided in the Preliminary Investment Feasibility Study]
Are civil society organizations representing women and vulnerable groups included in the consultation process?
Yes
[Response was provided in the Preliminary Investment Feasibility Study]
Were consultations held with representatives of target groups to take into account gender equality issues in the project?
Women's participation is ensured at various stages of planning (including public hearings)
[Response was provided in the Investment Feasibility Study]
Have the gender risks and social impacts of the project been assessed?
All possible positive impacts of the project on women, men or other gender groups have been identified
[Response was provided in the Investment Feasibility Study]
All possible negative impacts of the project on women, men or other gender groups have been identified
[Response was provided in the Investment Feasibility Study]
Are there management and institutional mechanisms in place to ensure gender equality?
Mandatory training for project staff on gender equality and inclusion is provided
[Response was provided in the Investment Feasibility Study]
Alternative technical solutions
Technical Solution 1
Reconstruction of the buildings of the Kremenchuk Museum of Local Lore
Technical Solution 2
Major renovation of the buildings of the Kremenchuk Museum of Local Lore
Cost breakdownCost justificationCost justification
Project cost (preparation and implementation)50'127'809 UAH21'000'000 UAH
For preparation2'940'973 UAH1'000'000 UAH
For implementation47'186'836 UAH20'000'000 UAH
Project operation and closure cost4'723'355 UAH0 UAH
For operation4'723'355 UAH0 UAH
Average annual costs4'723'355 UAH0 UAH
Project duration, incl.24 months16 months
Deadline for developing a FFS6 months4 months
Implementation period18 months12 months
Service life480 months240 months
Target indicatorsDefined Defined
Technical Solution Status
Active
[The technical approach was selected for further detailed analysis or implementation.]
Rejected
[The technical approach was not selected for further detailed analysis or implementation.]
Components of a technical solution
Commercial Justification
Supplier and contractor market assessment
Is the project likely to attract a sufficient number of bidders to ensure real competition that will encourage bidders to think innovatively and maximize the quality of their proposals?
Yes
[Response was provided in the Preliminary Investment Feasibility Study]
Is the project of interest to small and medium-sized enterprises?
Yes
[Response was provided in the Preliminary Investment Feasibility Study]
Will the project involve national or international suppliers and contractors?
Yes, both national and international
[Response was provided in the Preliminary Investment Feasibility Study]
Has an analysis of available procurement options been conducted for the technical solution?
Yes
[Response was provided in the Preliminary Investment Feasibility Study]
What procurement strategy was chosen for the project implementation, and what justifies its feasibility in the context of the market and project objectives?
Відкриті торги з особливостями використовується для проведення будівельних робіт. Це дозволяє залучити досвідчених підрядників через прозору систему Prozorro, використовуючи критерій найнижчої ціни при повній відповідності технічним стандартам (ДБН).
[Response was provided in the Investment Feasibility Study]
What approaches are planned to be used to ensure transparency, competition, and efficiency in the procurement process?
Цифрова прозорість та підзвітність: всі закупівлі здійснюються виключно через електронну систему, що забезпечує публічний доступ до тендерної документації, протоколів рішень та контрактів. Стимулювання чесної конкуренції - недискримінаційні вимоги: технічне завдання формується на основі міжнародних стандартів та ДБН, уникаючи посилань на конкретні торгові марки (або з обов'язковою позначкою «або еквівалент»). Антикорупційний та технічний контроль: моніторинг цін на будматеріали, до контрактів додаються детальні специфікації цін, які порівнюються з середньоринковими показниками регіону
[Response was provided in the Investment Feasibility Study]
What types of procurement procedures are envisaged by the project (open tender, negotiated procedure, competitive dialogue, etc.)?
Open competitive bidding
[Response was provided in the Investment Feasibility Study]
Pre-market engagement
Огляд відкритих тендерів у Prozorro: було проаналізовано аналогічні проєкти реконструкції закладів культури за останні 5 років та їх учасників. Проведено консультації зі спеціалістами в галузі музейної справи для визначення характеристик обладнання та матеріальних ресурсів, які є критичними для роботи закладу та збереження фондів.
[Response was provided in the Investment Feasibility Study]
Potential market participants
Ринок будівельно-монтажних робіт в Україні є активним, багато компаній мають досвід роботи з бюджетними коштами та міжнародними донорами
[Response was provided in the Investment Feasibility Study]
Market readiness assessment
Ринок України демонструє високу готовність до реалізації проєктів у сфері культури. Це зумовлено як безпрецедентним попитом, так і активним розвитком інфраструктури протягом останніх років. Ринок будівельних матеріалів стабілізувався, проте імпортні компоненти залишаються чутливими до курсових вагань.
[Response was provided in the Investment Feasibility Study]
Financial justification
Total project budget
Total preliminary budget54'851'164 UAH21'000'000 UAH
Project cost (preparation and implementation)50'127'809 UAH21'000'000 UAH
For preparation2'940'973 UAH1'000'000 UAH
For implementation47'186'836 UAH20'000'000 UAH
Project operation and closure cost4'723'355 UAH0 UAH
For operation4'723'355 UAH0 UAH
For closing0 UAH0 UAH
Were the methodological recommendations approved by the Ministry of Finance of Ukraine applied when calculating the indicative budget?
Yes
[Response was provided in the Preliminary Investment Feasibility Study]
Were the methodological recommendations approved by the Ministry of Finance of Ukraine applied when calculating the indicative budget?
Yes
[Response was provided in the Investment Feasibility Study]
Average project cost per service recipient
Service UnitКількість отримувачів послуг
Service Unit Cost1'003 UAH
Profitability of the project
Is the project expected to generate income?NoNo
Is the project self-sustaining?No
Availability of services
Has an analysis been conducted of the accessibility of services for consumers and their financial ability to pay the established tariffs?
No – analysis not performed
[Response was provided in the Preliminary Investment Feasibility Study]
Project Financing Mechanisms
Are funding sources and mechanisms identified?
Source and MechanismYesNo
Funding Sources
Approved Funds20'127'809 UAH0 UAH
Expected Funds20'127'809 UAH0 UAH
Public-private partnership
Has a qualitative and quantitative assessment of the project's suitability for implementation through a PPP mechanism been conducted?
No, no assessment was conducted.
[Response was provided in the Preliminary Investment Feasibility Study]
Are there, after conducting an appropriate study, private investors interested in the possibility of implementing the project in the PPP format?
No
[Response was provided in the Preliminary Investment Feasibility Study]
Management Rationale
Team competencies
Determine which competencies/expertise required for successful project preparation and implementation can be provided by the project initiator's own project team (without involving external advisors)
Strategic justification - analysis of the strategic feasibility of the project
[Response was provided in the Preliminary Investment Feasibility Study]
Economic justification - economic analysis
[Response was provided in the Preliminary Investment Feasibility Study]
Project management - communication with stakeholders
[Response was provided in the Preliminary Investment Feasibility Study]
Project management - risk management
[Response was provided in the Preliminary Investment Feasibility Study]
Economic justification - social and gender analysis
[Response was provided in the Preliminary Investment Feasibility Study]
Project management - public consultations
[Response was provided in the Preliminary Investment Feasibility Study]
Economic feasibility study - technical expertise
[Response was provided in the Preliminary Investment Feasibility Study]
Business case - analysis of available procurement options
[Response was provided in the Preliminary Investment Feasibility Study]
Project management - legal support
[Response was provided in the Preliminary Investment Feasibility Study]
Strategic rationale - SDG compliance analysis
[Response was provided in the Preliminary Investment Feasibility Study]
Project management - working with international financial organizations (IFOs)
[Response was provided in the Preliminary Investment Feasibility Study]
Financial analysis - financial analysis
[Response was provided in the Preliminary Investment Feasibility Study]
Strategic rationale - demand analysis
[Response was provided in the Preliminary Investment Feasibility Study]
Economic justification - environmental expertise
[Response was provided in the Preliminary Investment Feasibility Study]
Business case - analysis of the market environment
[Response was provided in the Preliminary Investment Feasibility Study]
Does the team have experience implementing similar projects?
Partially, we have limited experience
[Response was provided in the Preliminary Investment Feasibility Study]
Identify which competencies/expertise required for successful project preparation and implementation need to be strengthened by engaging independent experts or consultants
None of the options are applicable
Is there an understanding of where to find relevant experts and consultants?
Partially, we are considering options
[Response was provided in the Preliminary Investment Feasibility Study]
Is the project management structure defined: working group, chair, project team?
Yes
[Response was provided in the Investment Feasibility Study]
What categories of experts and consultants have already been involved at the project preparation stage?
None of the options are applicable
Are there plans to involve experts and consultants for further implementation of the project?
Yes
[Response was provided in the Investment Feasibility Study]
Risk assessment
Technical riskDefinedUndefined
Financial riskDefinedUndefined
Economic riskDefinedUndefined
Political riskDefinedUndefined
Social riskDefinedUndefined
Operational riskDefinedUndefined
Market riskDefinedUndefined
Environmental riskDefinedUndefined
Organizational events
ResponseDefinedUndefined
Team involvement
How exactly are/will stakeholders be involved?
Meetings with local authorities
[Response was provided in the Investment Feasibility Study]
Public hearings
[Response was provided in the Investment Feasibility Study]
When are/will engagement activities be taking place?
At the project monitoring stage
[Response was provided in the Investment Feasibility Study]
At the project implementation stage
[Response was provided in the Investment Feasibility Study]
At the project preparation stage
[Response was provided in the Investment Feasibility Study]
How is/will the public be informed about the importance of participation and available channels for feedback?
Official websites
[Response was provided in the Investment Feasibility Study]
https://kremen.gov.ua/index.php?view=single-news&news-id=40879
Local media
[Response was provided in the Investment Feasibility Study]
Are public hearings being held/will they be held (offline, online)?
Yes, offline.
[Response was provided in the Investment Feasibility Study]
https://kremen.gov.ua/index.php?view=single-news&news-id=40879
Who will attend the public hearings?
Representatives of public organizations
[Response was provided in the Investment Feasibility Study]
Experts
[Response was provided in the Investment Feasibility Study]
Community representatives
[Response was provided in the Investment Feasibility Study]
Government officials
[Response was provided in the Investment Feasibility Study]
Public hearings have already been held
Yes
[Response was provided in the Investment Feasibility Study]
12 грудня 2025 року у виконавчому комітеті Кременчуцької міської ради відбулися Громадські слухання щодо врахування громадських інтересів проєкту рішення Кременчуцької міської ради Кременчуцького району Полтавської області «Про бюджет Кременчуцької міської територіальної громади на 2026 рік». Участь у слуханнях взяли 169 громадян.
Results of the feasibility analysis
Project Preparation Program Engagement and Funding Needs
Is there ongoing cooperation or support within the framework of international technical assistance (ITA) or from other donor or government agencies?
No
[Response was provided in the Preliminary Investment Feasibility Study]
Does the project require preparation assistance from Project Preparation Programs (PPF)?
None of the options are applicable
Does the project require additional preparation assistance from Project Preparation Facilities (PPF)?
None of the options are applicable
Need for financing
Does the project require additional funding for preparation?
No
[Response was provided in the Preliminary Investment Feasibility Study]
Project Approval History
DateDecision NumberPortfolioProject StatusDecisionReasonsMaturity level
13/04/2026SP-L-130426-0E9F0887Community SPInvestment Feasibility StudyInclude--