Business news from Ukraine

Business news from Ukraine

“Ukrenergomashiny” plans to allocate 60 mln hryvnias toward production modernization in 2026

In 2026, JSC “Ukrenergomashiny” plans to invest approximately 60 million UAH in production development, specifically for the purchase of new equipment, major repairs and modernization of existing equipment, and the provision of technological equipment for workplaces.

“The total planned capital investment for 2026 amounts to UAH 60 million. Funding will be provided from the company’s own funds,” according to the company’s 2025 financial report published in the disclosure system of the National Securities and Stock Market Commission.

In particular, it is planned to allocate UAH 33.5 million in investments to improve the technical level of mechanical assembly, metallurgical, and welding operations, installation work, and equipment modernization; UAH 12.4 million toward the development of auxiliary production and laboratory facilities, office equipment, and tools, and UAH 14 million toward design, research, development, and technological work.

As reported, in 2025, Ukrenergomashiny increased its net revenue by nearly 33% compared to 2024—to 1.06 billion UAH—and its net profit by 3.5 times, to 3.07 million UAH.

According to the report, exports accounted for 70.7% (nearly UAH 770 million), including shipments to Kazakhstan, India, Armenia, Bulgaria, and Hungary.

Last year, in particular, a steam turbine was delivered for the Aksu TPP and power equipment for the Ekibastuz Thermal Power Plant (Kazakhstan), a set of power equipment for the Kozloduy NPP (Bulgaria) and the Armenian NPP, and sets of power (turbine) equipment for the Bandel TPP (India).

Domestic customers were supplied with equipment for the Khmelnytskyi, Rivne, and South Ukraine NPPs, as well as the Dobrotvor, Trypillya, Zmiiv, Kryvyi Rih, Burshtyn, and Darnytsia TPPs, and the Kremenchuk HPP.

Motor equipment was supplied, in particular, to Tatra-Yug LLC (83 traction electric motors), the Kryukiv Electric Locomotive Plant (18 induction generators), and Ukrzaliznytsia (41 induction generators).

JSC “Ukrenergomashiny” (formerly JSC ‘Turboatom’ and “Elektrovazhmash”) is Ukraine’s sole manufacturer of turbine equipment for hydroelectric, thermal, and nuclear power plants. It also manufactures, in particular, electric motors for rail and urban transport (the “Elektrovazhmash” product line).

As of early 2026, the company employed 2,169 people.

At the same time, the report notes that, in accordance with orders from the CEO, under martial law conditions—taking into account the state of production, its supply of material and energy resources, and with the aim of rationally utilizing working hours and financial resources—a part-time work schedule has been established for the company’s employees.

“Employees of JSC ‘Ukrenergomashiny’ work according to schedules based on the company’s needs,” the document states.

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Number of dead and wounded civilians in Ukraine from 24.02.2022 till 30.09.2025 un data

Number of dead and wounded civilians in Ukraine from 24.02.2022 till 30.09.2025 un data

“Ukrgazvydobuvannya” paid 5.4 bln hryvnias in royalties in first quarter of 2026

JSC “Ukrgazvydobuvannya,” part of the “Naftogaz” group, contributed UAH 5.4 billion in royalty payments to the country’s consolidated budget based on its operations in January–March 2026, the company reported on Tuesday.

“In accordance with current legislation, 5% of this amount, or 270.5 million UAH, was allocated to local and regional budgets in the regions where the company conducts hydrocarbon production,” the company noted.

The royalty funds are distributed among the regions as follows: Kharkiv – 150 million UAH, Poltava – 96.6 million UAH, Lviv – 13.3 million UAH, Dnipropetrovsk – 3.4 million UAH, others – 7.2 million UAH.

As reported, in 2025, the state-owned company “Ukrgazvydobuvannya,” the largest player in the market in terms of gas production volume, incurred a loss of 5.5 billion UAH, compared to a profit of 52.6 billion UAH in 2024.

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Ukrzaliznytsia has introduced new train with 2026-model cars on Kyiv–Uzhhorod route

Ukrzaliznytsia has launched a new flagship train, the “Sakura,” which connects Kyiv and Uzhhorod and features new cars manufactured in Ukraine in 2026, according to a statement from the Ministry of Community and Territorial Development.

According to the Ministry’s press release on Tuesday, the new cars are equipped with security systems featuring surveillance cameras and include a number of passenger-friendly improvements: rechargeable batteries, additional amenities for traveling with children, inclusive design elements, and functional comfort features in the compartments.

The new flagship train departs on its maiden voyage from Kyiv to Uzhhorod today, April 28.

“In total, Japan has already provided Ukraine with over $15 billion in financial, humanitarian, and technical aid. “Within the framework of grant programs, we are coordinating four phases of emergency recovery totaling approximately $700 million and expect to sign the next phase for an additional $40 million,” Deputy Prime Minister for Recovery and Minister of Community and Territorial Development of Ukraine Oleksii Kuleba is quoted as saying in the release.

It is noted that with JICA’s assistance, Ukraine received approximately 28,000 tons of rails manufactured by Nippon Steel and dozens of units of specialized equipment, which allowed for the renewal of about 200 km of tracks on key routes.

The Ministry of Development added that 12 train cars feature cherry blossom petal branding.

In addition, passengers on the train will have access to an online portal about Japanese culture, architecture, and art, and will also be able to explore elements of Japanese cuisine, board games, and joint Ukrainian-Japanese cultural projects.

As previously reported, Ukrzaliznytsia received the first six of 100 new passenger cars ordered in 2025 from PJSC Kryukiv Railway Car Building Works (KVBZ).

The total contract value is approximately 6.5 billion UAH, and funding is provided from the state budget.

Deliveries are expected to continue in phases until May 2028, and 60 such cars will be ready by the end of 2026.

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“Kyivspetstrans” Plans to Hold Shareholders’ Meeting on April 30

According to Fixygen, Kyivspetstrans PJSC plans to hold a general meeting of shareholders on April 30.

The company operates in the waste management sector in Kyiv and specializes in the collection, processing, and disposal of household waste. On its corporate website, the company describes itself as one of the market leaders in this sector in the capital and notes that it disposes of Kyiv’s waste at Solid Waste Landfill No. 5 in the village of Podgortsy and at Construction Waste Landfill No. 6 in Kyiv.

Kyivspetstrans PJSC was registered on May 21, 1997. The company’s registered address is 85 European Union Avenue, Kyiv. Its primary activity is the collection of non-hazardous waste. Andriy Hruschynskyi is listed as the company’s director.

According to SMIDA data as of March 31, 2026, the company’s largest shareholder is Igor Tynny, who owns 46.8349% of the shares.

According to Opendatabot, Kyivspetstrans’ revenue in 2025 amounted to UAH 521.857 million, with a net profit of UAH 44.991 million.

Kyivspetstrans is one of the key operators in the capital’s waste management system. The company has been operating in the market since 1971 and provides services for the collection, processing, and disposal of waste, remaining an important element of Kyiv’s municipal infrastructure.

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Scheme to obtain “golden visas” through shell companies has been uncovered in Latvia

In Latvia, the so-called “golden visa” program has once again found itself at the center of a scandal after the country’s Financial Intelligence Unit identified more than 20 companies that, according to its assessment, were used for fictitious investments with the aim of obtaining residence permits. This was reported by the Latvian public media outlet LSM, citing the investigative program De Facto.

According to the investigation, approximately 200 foreigners invested more than 10 million euros in the authorized capital of such companies. At the same time, it is noted that the funds were often not used for actual economic activity but were redirected to the scheme’s organizers or circulated among related parties, providing no tangible benefit to Latvia’s economy but formally justifying applications for residence permits.

The program provides for the possibility of obtaining a temporary residence permit in Latvia upon investing 50,000 or 100,000 euros in a company’s capital. In 2025, this procedure brought the country nearly 6 million euros, and a total of 341 people received residence permits through it, including investors and their family members. At the same time, as LSM emphasizes, the state does not systematically assess how significant the actual contribution of these companies is—in terms of turnover, number of employees, or actual activities.

Interest in the program has grown in recent years. According to the Latvian Office of Citizenship and Migration Affairs, 109 applications were submitted last year—more than five times as many as in 2021, when there were 20. However, only about one-third of the applications received a positive decision, as applicants undergo security and reliability checks.

The investigation also cites the example of L Hotels, a company established about a year and a half ago. Nine of its investors applied for residence permits last year, and the company’s list of shareholders includes 30 people from India, Afghanistan, Pakistan, Turkey, Chile, Malawi, Syria, Vanuatu, and other countries. Most of them invested 100,000 euros each but received Class B shares, which, according to the articles of association, do not carry voting rights.

Toms Platacis, head of the Financial Intelligence Unit, stated that in some cases, the 50,000 euros required by law were in fact the same funds, recycled multiple times in a loop. LSM emphasizes that the story has once again intensified criticism of the program, which was originally intended to stimulate investment and attract wealthy foreigners but has been plagued by allegations of abuse from the very beginning.

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