According to the results of 2024, PJSC Firm Fundament (Kyiv) received a net loss of UAH 19.2 million, compared to a net profit of UAH 86,000 in 2023.
According to the company’s report in the information disclosure system of the National Securities and Stock Market Commission of Ukraine (NSSMC), its net income grew by 50.8% compared to the previous year and reached UAH 69.6 million. The company’s gross profit grew by 52.6% and amounted to UAH 8.2 million.
The company’s retained earnings during 2024 decreased by 30.8% to UAH 44.2 million. Current liabilities decreased by 12.5% compared to 2023 – UAH 50.1 million, and long-term liabilities by 36% – to UAH 3.6 million.
The total assets of PJSC “Firma ”Fundament” decreased by 22.2% in 2024, to UAH 102.7 million.
As noted in the company’s annual report, in 2024, the production of concrete products for defense purposes was organized on the territory of the production and technical base. The main types of income for the company are also income from the installation of pile foundations, general construction works, and engineering services (general contracting services).
The main consumers of the company’s services are developers in Kyiv: DBK Fundament Stolitsa Group LLC, Poznyakizhylbud, and Saga Development. The main consumers of concrete products are defense industry structures.
According to the report, in 2024, the number of employees decreased from 163 to 145. The company cites the shutdown of construction projects and mobilization into the ranks of the Defense Forces as one of the main reasons for the staff turnover. Since 2021, the number of employees has halved.
According to the National Securities and Stock Market Commission, as of the first quarter of 2025, the shareholders of PrJSC “Firma ”Fundament” are Oleksandr Yarosh (46.8%) and Dmytro Alekseev (45.8%).
PJSC “Firma ‘Fundament’ is part of the ”Fundament” construction group.
Romania and Moldova have reached an agreement on the construction of a new road bridge across the Prut River, according to a government press release from Bucharest. Under the terms of the memorandum signed by the Romanian government, the project provides for:
– the creation of a new road crossing to strengthen cross-border communication between the two countries and integrate Moldova into the EU transport network (TEN-T).
– the formation of a joint working group and a mixed commission to coordinate technical, financial, and customs issues during the implementation of the project.
– financing from the Romanian budget: in the first phase of the design of four bridges across the Prut, approximately €0.22 billion is to be allocated for each section.
The implementation of the project will help reduce transport time and increase the capacity of roads between Moldova and Romania, as well as improve the overall logistics of the region and speed up transport flows, including between Ukraine, Moldova, and Romania.
KAN Development invested $120 million in education and the construction of educational institutions during the war, according to company founder Igor Nikonov.
“At KAN Development, we believe in the future and are building it today. We are creating self-sufficient ecosystems with everything you need: work, education, sports, medicine, security. During the war, we invested $120 million in education for children and are building schools of a new level,” Nikonov said on his Facebook page following his participation in the Kyiv International Economic Forum (KIEF).
As reported, KAN Development is investing $80 million in the construction of a school in the Respublika residential complex and a school on McCain Street in Kyiv. In total, the educational institutions are designed for 2,000 students.
In September 2024, the A+ architectural and engineering college also opened in the Faina Town residential district in the capital. It became the 15th educational institution in the A+ network.
KAN Development was founded in 2001. The company’s portfolio includes Ocean Plaza, Respublika Park, Tetris Hall, Central Park, Comfort Town, Faina Town, Respublika, IQ Business Center, and 101 Tower. In more than 20 years of operation, KAN Development has created over 3 million square meters of residential, retail, and commercial real estate. The company is also actively developing its own network of A+ educational institutions.
Ukrzaliznytsia (UZ), subject to European and state co-financing, plans to implement the Mostytska-Sknyliv project in the next two years and further develop the Lviv-Uzhhorod -Chop and Lviv-Chernivtsi-Vadul-Siret (Romania), which will allow Ukraine to begin restoring and realizing its unique geographical status, said Oleg Yakovenko, director of the strategy and transformation department at Ukrzaliznytsia.
“We also plan to obtain grant funds for the Mostyska-Sknyliv project, which will connect 80 km of European gauge track between the Polish border and Lviv. Next, we are currently conducting technical and economic studies on the corridors connecting Lviv, Chernivtsi, and Romania,” Yakovenko said during the Kyiv International Economic Forum (KIEF) on Thursday, October 16.
According to him, as part of Ukraine’s integration into the European Union, UZ plans to develop 1435 mm gauge railways and European transport corridors on the territory of Ukraine. The European integration reform of the railway industry also envisages a radical change in the functioning of the entire railway model in Ukraine.
“First of all, we are talking about market reform, which involves separating the infrastructure operator within Ukrzaliznytsia from the transport operators. This will allow us to liberalize the market in the future. It will also allow us to create market mechanisms specifically for transport,” Yakovenko explained.
He named the introduction of European rules on technical compatibility and interoperability as another element of the reform. This concerns technical safety standards, as well as changes to the safety management system.
The director of the strategy and transformation department at Ukrzaliznytsia noted that a draft law “On the safety and interoperability of Ukraine’s rail transport” is currently planned to be submitted for adoption by the end of the year, while next year the company expects a law on market liberalization to be introduced.
As Yakovenko explained, it is expected that a so-called infrastructure access tariff will be formed, according to which market participants will be able to purchase certain access to transport routes from the infrastructure operator on a competitive basis.
“These tariffs will be regulated, i.e., they will be formed in accordance with the tariff formation procedure and will reflect economically justified tariffs in accordance with European rules,” emphasized the representative of Ukrzaliznytsia.
It is noted that the new system will introduce separate PSO (Public Service Obligation) contracts between passenger carriers and the state at the national level, as well as between carriers and local authorities. This should remove the financial burden from freight transport.
As reported, in September, a section of standard (“European”) 1435 mm gauge railway was opened between Uzhhorod and Chop in Zakarpattia Oblast, which will allow for direct rail connections between Uzhhorod and a number of European capitals.
In addition, in January 2025, it was reported that the reconstruction of the railway track on the section “Polish State Border – Mostyska II – Sknyliv (Lviv)” would be postponed until 2026, although in February 2024, the then Deputy Prime Minister for Recovery – Minister of Community, Territory and Infrastructure Development Oleksandr Kubrakov announced the start of construction by the end of 2024. Later it became known that Ukraine had failed to attract Connecting Europe Facility (CEF) funding for the project. It was reported that the US Agency for International Development (USAID) was considering financing 50% of the project’s cost, but it has since been liquidated.
CONSTRUCTION, EU, European gauge, GRANT, LVIV, UKRZALIZNYTSIA
Prices for construction and installation work in Ukraine in August 2025 rose by 5.4% compared to August 2024, according to the State Statistics Service (SSS).
According to the statistics agency, in August 2025 compared to August 2024, prices increased in all segments of construction: in residential construction, the increase was 5.7%, in non-residential construction – 5.5%, and in engineering construction – 5.2%. At the same time, compared to July of this year, prices rose by 0.2%, 0.1%, and 0.6%, respectively.
In August 2025 to December 2024, prices for construction and installation works increased by 4%, while in the first eight months of 2025, construction prices increased by 6% compared to the same period a year earlier.
As reported, in 2024, prices for construction and installation works increased by 7.9% compared to the previous year, and in 2023, they rose by 15.8% compared to 2022.
The State Statistics Service indicated that the figures do not include temporarily occupied territories and parts of territories where hostilities are (were) ongoing.
The Nikkei Asia news portal reported that the Japanese company Sojitz will invest in the construction of a new international airport in Tashkent.
According to the publication, Sojitz will start implementing the project this year. The construction is part of the company’s $1 billion infrastructure investment.
The Tashkent airport will be built in partnership with the Saudi company Vision Invest on the basis of a public-private partnership. Sojitz plans to invest tens of billions of yen, or hundreds of millions of dollars, in the project. The company has previously participated in international airport projects in Kumamoto and Okinawa prefectures, as well as on the islands of Palau.
“The project for a new airport in Uzbekistan was approved in August 2025. According to the plan, its opening is scheduled for 2028. The new airport will be able to handle up to 20 million passengers per year and provide more than 40 takeoffs and landings per hour, making it the largest in Central Asia,” the article notes.
Sojitz also plans to participate in other infrastructure projects in Uzbekistan. Together with the Turkish company Ronesans International, it plans to build a large 800-bed hospital, a 1 GW wind farm, and a 1.6 GW thermal power plant in Samarkand.
According to Nikkei Asia, Uzbekistan is the largest country in the region with a population of 37 million. Annual GDP growth exceeds 6%, and tax breaks and incentives are available for foreign investors. The corporate tax rate is 15%.
“As of October 2024, 54 Japanese companies are operating in Uzbekistan, twice as many as in 2019. In June, Sojitz opened its first official office in Tashkent,” the publication notes.
The article also notes that other Japanese companies are actively developing infrastructure projects in Uzbekistan. For example, Toyota Tsusho, through its subsidiary Eurus Energy Holdings, is exploring a site for a 500 MW wind farm and has signed an agreement with NEC to build data centers. Marubeni, in partnership with the UAE, is implementing a project to build a wastewater treatment plant.
In addition, Nikkei Asia reports that Uzbekistan is in talks with Japan’s Ministry of Economy, Trade, and Industry to expand cooperation in the extraction of mineral resources, particularly those of strategic importance.
