Business news from Ukraine

Business news from Ukraine

Bauxite imports into Ukraine fell by 47% in first half of year

In January–June of this year, Ukraine reduced its imports of aluminum ores and concentrates (bauxite) by 47.1% in volume terms compared to the same period last year—down to 7,198 thousand metric tons from 13,606 thousand metric tons.

According to statistics released by the State Customs Service (SCS), bauxite imports in monetary terms decreased to $1.402 million from $1.569 million in January–June 2026.

Imports came from China (65.62% of shipments in monetary terms) and Turkey (34.38%).

In addition, Ukraine shipped 45 metric tons of bauxite worth $10,000 to Poland in May, while Ukraine did not re-export any bauxite in 2025.

As previously reported, in 2025, Ukraine increased its imports of aluminum ores and concentrates by 23.7% in volume compared to the previous year—to 43.5 thousand metric tons—and by 15.8% in value, to $4.754 million. These imports came primarily from Turkey (81.84% of shipments in monetary terms), China (15.97%), and Guyana (2.19%).

Ukraine did not re-export bauxite in 2025, just as it did not in 2024 and 2023.

In 2024, Ukraine increased its imports of bauxite by 77.4% in volume terms compared to 2023—to 35,173 thousand metric tons—and by 74% in value terms—to $4.107 million. Imports came primarily from Turkey (78.48% of shipments in monetary terms), China (19.48%), and Spain (1.9%).

Bauxite is an aluminum ore used as a raw material for producing alumina, which is then used to produce aluminum. They are also used as fluxes in ferrous metallurgy.

Bauxite is imported into Ukraine, in particular, by the Mykolaiv Alumina Plant (MGP), which is currently idle.

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“Ukrzaliznytsia” and Spain’s Renfe Agree on Strategic Cooperation

JSC “Ukrzaliznytsia” (“UZ”) and Spain’s national railway operator Renfe have agreed on a strategic partnership aimed at developing freight and passenger transportation, according to a company statement released on Friday.

“Ukrzaliznytsia and Renfe—Spain’s national railway operator, with over 80 years of experience in passenger transport and more than 30 years of operating high-speed trains—have agreed on a strategic partnership,” UZ wrote on its Telegram channel.

The agreement is expected to cover the implementation of technologies for automatic gauge change, the establishment of interconnection points between different systems, and the planning of the development of the European gauge.

Among other things, the companies will explore opportunities to develop and organize passenger routes on the 1,435 mm gauge in Ukraine, both on existing lines and on sections that are under construction or planned for construction.

Furthermore, the memorandum provides for cooperation in the field of freight transport and intermodal logistics between Ukraine and the countries of the European Union.

“Ukrzaliznytsia, for its part, will share its unique experience in ensuring the continuity of transportation, the rapid restoration of infrastructure, and the resilience of the railway system amid a full-scale war,” the statement reads.

As part of this collaboration, technical teams will exchange expertise in modern traffic control and safety systems, as well as in increasing capacity and improving service quality for passengers and shippers.

The parties will also work on further developing barrier-free infrastructure and rolling stock for people with disabilities and other mobility-impaired groups.

Ukrzaliznytsia clarified that the cooperation is formalized by a memorandum with Renfe’s subsidiary, Renfe Proyectos Internacionales Sociedad Mercantil Estatal (RPI).

 

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Belgrade–Budapest high-speed train may begin service in August or September

According to Serbian Economist, passenger service on the high-speed rail line between Belgrade and Budapest is scheduled to begin within the next one to two months, Hungarian Prime Minister Péter Magyar announced at a press conference on July 16. Thus, provided the new deadlines are met, the first trains could begin running in August or September. However, Hungarian authorities have not yet specified an exact launch date.

In the coming days, Hungarian Minister of Transport and Investment David Vitézi is scheduled to visit Serbia. During talks with representatives of the Serbian government, the parties plan to coordinate the operation of signaling systems and equipment that ensure traffic safety on the cross-border section.

The launch of passenger trains has already been postponed several times. The main issue has been the certification of the European Train Control System (ETCS) installed on the Hungarian section of the line. Inspections conducted in the spring revealed malfunctions that could have compromised train safety at speeds of up to 160 km/h.

The reconstruction of the railway line has already been completed, and on February 27, 2026, freight traffic began on the Hungarian section. The first cross-border freight train traveled from Budapest through Kelebia and Subotica toward Novi Sad. Passenger service has been postponed until the testing and certification of the signaling systems are completed.

The Belgrade–Budapest high-speed rail line is one of the largest joint infrastructure projects between Serbia, Hungary, and China. Once fully operational, it is expected to significantly reduce travel time between the two capitals and strengthen Serbia’s transport links with Central Europe.

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Schneider Electric Joins Efforts to Modernize District Heating in 26 Ukrainian Cities

Schneider Electric has implemented a large-scale infrastructure project: 26 Ukrainian cities have received state-of-the-art equipment to improve the energy efficiency and operational reliability of their district heating systems.

Completing the project before the start of the 2025/2026 heating season allowed heating utilities to better prepare for peak loads. Thanks to the equipment provided, the cities were able to navigate the heating season more smoothly, reducing the risk of unscheduled outages and improving the overall efficiency of their systems.

As part of the project, Schneider Electric supplied control cabinets for pumps and blower mechanisms, equipped with state-of-the-art variable-frequency drives, to 26 cities in Ukraine across the Chernihiv, Cherkasy, Lviv, Ivano-Frankivsk, Ternopil, Rivne, Vinnytsia, Khmelnytskyi, Zhytomyr, Odesa, Kirovohrad, Kherson, Sumy, Poltava, and Kyiv regions.

A key element of the project was the implementation of variable-frequency drives to regulate the operation of pumping equipment at heat supply companies, which significantly improved the energy efficiency of the systems, reduced electricity consumption, optimized operating costs, and extended the service life of the equipment.

The solutions, based on Schneider Electric technologies, include fully equipped control cabinets for pumping equipment. The cabinets are protected against moisture and dust, allowing them to be installed directly in machine rooms, thereby reducing costs and simplifying installation.

The companies have gained tools for more flexible equipment management, reducing the load on the power grid, and improving the quality of heat supply services for consumers.

“This is not just about supplying equipment, but about a long-term investment in energy efficiency and the stability of heat supply in Ukraine. Already today, we are seeing how the implemented solutions are helping enterprises optimize energy consumption, improve system reliability, and lay the foundation for further modernization of the industry,” said Mykhailo Bubnov, CEO of Schneider Electric Ukraine.

The completed project serves as an example of collaboration aimed at implementing modern energy-efficient technologies and improving the operational efficiency of Ukraine’s utility companies.

Schneider Electric is a global leader in energy technologies that enhances efficiency and promotes sustainable development through the electrification, automation, and digitalization of industry, business, and residential spaces. The company’s technologies enable buildings, data centers, factories, infrastructure, and power grids to function as open, interconnected ecosystems, increasing productivity, resilience, and environmental sustainability. The company’s portfolio includes smart devices, software-defined architectures, artificial intelligence-based systems, digital services, and professional consulting services. With 160,000 employees and 1 million partners in over 100 countries, Schneider Electric consistently ranks among the world’s most sustainable companies.

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“Cherkasy Bus” Will Supply 23 School Buses to Transcarpathian Regional State Administration

Cherkasy Bus JSC will supply 23 school buses to the Transcarpathian Regional State Administration (RSA) for 98.265 million UAH (including VAT) or 81.89 million UAH (excluding VAT), with an expected procurement amount of 82.46 million UAH (excluding VAT).

According to information on Prozorro, the parties signed the relevant contract on July 14.
The plant was the sole bidder, offering 19 buses with two seats for students with limited mobility at a price of nearly 3.613 million UAH each, and four standard buses at a price of nearly 3.313 million UAH each (excluding VAT).

The buses were manufactured this year and comply with the Euro 5 emissions standard. The standard buses have 28 seats for students, while the specialized buses have 19. The localization rates are 68.4% and 70.66%, respectively.
As previously reported, the Transcarpathian Regional State Administration initially announced a tender to purchase the same number of buses for 97.202 million UAH (including VAT), but it was automatically canceled on July 6.

Transcarpathia subsequently announced a new tender for 82.46 million UAH (excluding VAT).
“Cherkasy Bus” recently signed a contract to supply 27 school buses to the Ivano-Frankivsk Regional State Administration for 113.45 million UAH (including VAT), including 17 buses with two seats for students with limited mobility for nearly 73.7 million UAH.

As previously reported, the sources of funding for Transcarpathia’s bus purchases include a state budget subsidy to the local budget in the amount of 88.097 million UAH (the full amount for the current year) and co-financing from the local budget in the amount of 10.858 million UAH, whereas in the previous tender, these amounts were 84.95 million UAH and 12.25 million UAH, respectively.

The “School Bus” program has been implemented since 2024 thanks to financial cooperation between the EU and Ukraine as part of the Ukraine Facility.
The state budget subvention for the program this year amounts to 2 billion UAH, and the purchase of over 540 buses is planned through the Prozorro Market electronic catalog.

The school bus market in Ukraine includes “Cherkasy Bus,” the Chernihiv Automobile Plant of the “Etalon” Corporation, the Zaporizhzhia Automobile Plant, and “Bas Motor” LLC (manufacturer of “Bogdan” buses). They manufacture small-class buses using imported components, with capacities ranging from 21 seats (the “Ataman” bus, which includes two seats for students with mobility impairments) to 40.

At the same time, as part of adapting the school transportation system to wartime conditions and the actual needs of communities, the Ministry of Education and Science is exploring the possibility of communities purchasing small-capacity buses (category M2) equipped for the safe transportation of children.
There is already an offer on Prozorro Market for a bus of this class from the company “Avtosnab,” which has developed and begun production of a school bus based on the Peugeot Boxer commercial van with 17 seats.

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“Kyivstar” Tops Ranking of Ukrainian Telecom Operators by Revenue

The top three operators in Ukraine by revenue from telecommunications services for January–March 2026 were, by a wide margin, mobile operators: Kyivstar PJSC – 12.08 billion UAH, VF Ukraine PJSC (Vodafone-Ukraine brand) – 6.69 billion UAH, and lifecell LLC (lifecell brand) of the DVL Group – 4.18 billion UAH.

According to data from the National Commission for the Regulation of Electronic Communications and Postal Services (NCREC) published on its website, compared to 2025 figures, Kyivstar’s revenue increased by 15.1%, Vodafone-Ukraine’s by 10%, and lifecell’s by 13.9%.
As previously reported, for 2025 as a whole, these growth rates were 20.3%, 13.1%, and 19.1%, respectively.

The top five operators by revenue in the first quarter of 2026 also included the fixed-line operator PJSC “Ukrtelecom,” which saw its revenue decline by 6.3% compared to the same period in 2025, to 1.10 billion UAH.
Kyivstar’s “sister” company, LLC “Ukraine Tower Company” (UTC), rounded out the top five in terms of revenue in the first quarter of 2026, increasing its revenue by 20.7% to 0.86 billion UAH.

According to the report, in the second group of five by telecommunications revenue, the fixed-line operator PJSC “Datagroup” from the DVL Group leads the way, having increased its revenue by 37.9% compared to the same period last year—to 0.58 billion UAH—thereby moving up from 7th to 6th place.
Next is the fixed-line operator PJSC “Farlep-Invest,” controlled by “VF Ukraine,” which increased its revenue by 52.8%—to 0.27 billion UAH—and moved from 9th place in 2025 to 7th in 2026.

LLC “Ukrainian Network Solutions,” the holding company for “Vodafone Ukraine,” increased its telecommunications revenue 2.5-fold in the first quarter of 2026—to 0.27 billion UAH—ranking 8th.
Rounding out the top five was “Home-Net” Scientific and Industrial Company LLC, which managed to increase its revenue by 24.1%—to 0.21 billion UAH—moving up from 10th to 9th place.

For its part, the Radio Broadcasting, Radio Communications, and Television Concern increased its revenue in the first quarter of 2026 by 7.2% compared to the same period in 2025—to 0.17 billion UAH—ranking 10th.
According to the regulator’s data, the top three mobile operators also led in terms of capital investments in the telecommunications sector during the first quarter of 2026: “Kyivstar” increased its investments by 49.7% compared to 2025—to 3.17 billion UAH, “Vodafone-Ukraine” by 6.3% to 1.33 billion UAH, and lifecell by 23.3% to 1.27 billion UAH.

At the same time, Ukraine Tower Company LLC reduced its capital investments in the first quarter of 2026 by 18.3% compared to the first quarter of 2025, down to 0.29 billion UAH, while Farlep-Invest PJSC increased this figure by 18.3% to 0.28 billion UAH.
“Ukrtelecom” also reduced its investment volume by 28.2% in the first quarter of 2026 compared to the same period last year—to 61.9 million UAH, while “Datagroup” reduced its investment by 17.2%—to 47.9 million UAH, thus securing 7th and 8th places, respectively.

In turn, Ukrainian Network Solutions LLC, which ranked 6th in investment volume in the first quarter, also reduced its investment by 50.9% compared to the same period last year—to 94.9 million UAH.

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