The agro-industrial holding “Astarta” has modernized one of the largest livestock complexes in the Khmelnytskyi region by installing a state-of-the-art 40-head milking carousel, the company’s press service reported on Facebook.
“Dairy farming remains one of Astarta’s strategic areas of development… In the last 2.5 years alone, investments in the dairy segment have exceeded 1 billion hryvnia,” the press service quoted Viktor Ivanchik, CEO of the agribusiness holding, as saying.
According to the press service, investments are being made in farm modernization, technology, and production quality, resulting in market leadership in industrial milk production and 99% of milk being of extra-class quality.
According to the company, the complex is designed to house 2,000 head of cattle.
The modernization project involved upgrading production facilities with a focus on improving animal welfare, production efficiency, and the potential for further expansion.
The company noted that the modernization is part of the holding’s infrastructure program, which also includes the implementation of digital technologies in livestock farming, improving the energy efficiency of farms, and enhancing the genetics of the herd.
“Astarta” is a vertically integrated agro-industrial holding operating in seven regions of Ukraine and is the country’s largest sugar producer. The company’s portfolio includes five sugar refineries, agricultural enterprises with a land bank of 214,000 hectares (including 129,000 hectares in Poltava Oblast, 42,000 hectares in Khmelnytskyi Oblast, and 16,000 hectares in Vinnytsia Oblast), and 26 dairy farms with 29,000 head of cattle across three regions. The holding company also operates a soybean processing plant and a bioenergy complex in Poltava Oblast, as well as a network of six grain elevators.
Astarta’s net profit for 2025 fell 4.2-fold to $19.94 million, while consolidated revenue decreased by 23% to $472 million.
Revenue from the livestock segment last year amounted to EUR56 million, and the average annual livestock headcount increased by 5% to 29,000.
Milk sales volumes rose by 6% year-over-year to 122,000 metric tons. At the same time, 99% of the raw milk was classified as extra-quality milk, compared to 97% in 2024.
Ukraine’s post-war reconstruction will create a massive market for the construction sector, industry, and related sectors; however, Ukrainian companies need to start preparing now to compete with international contractors, according to Andriy Ozeychuk, director of Rauta and chairman of the board of directors of the Ukrainian Steel Construction Center Association.
In his column for The Page, he noted that once the war ends, demand for construction will be significant from the general public, the government, and the business sector alike. According to estimates by the Ministry of Foreign Affairs, there are about 8 million Ukrainians abroad who fled during the full-scale invasion, and the UN forecasts the return of 3–3.5 million people once lasting peace and security guarantees are in place.
According to the expert, a significant portion of those who return, as well as internally displaced persons, will need new housing or the restoration of damaged homes. At the same time, reconstruction will not be limited to the housing stock. According to estimates by the Kyiv School of Economics, residential buildings account for only about one-third of the direct losses from the war, while significant losses were also sustained by transportation and energy infrastructure, corporate assets, industry, and the agri-industrial complex.
Ozeychuk notes that, according to World Bank estimates, Ukraine’s reconstruction will require more than EUR500 billion over the next decade. This is nearly three times Ukraine’s GDP in 2025 and creates significant opportunities not only for the construction sector but also for the entire economy.
In his estimation, every hryvnia invested in construction has a multiplier effect and stimulates 1.5 to 3 times greater growth in related sectors. Examples include the postwar reconstruction of Germany and South Korea, where the construction sector became one of the catalysts for economic growth.
The expert identifies the main sources of funding for large-scale projects as direct financial assistance from international partners—including the G7, the EU, and the U.S.—the attraction of large private investments backed by state guarantees, as well as reparations and confiscated frozen assets of the Russian Federation. Ukraine’s European integration should serve as an additional incentive, as it will eventually open access to specialized EU development funds.
At the same time, Ukrainian construction companies may already face stiff competition from European players. According to Ozeychuk, the most realistic scenario would be a consortium model in which a European general contractor would work alongside Ukrainian subcontractors and use local materials certified to European EN standards.
Under this scenario, foreign companies could be involved in high-tech work, while Ukrainian businesses would handle local logistics, specialized work, and the construction of utility networks, roads, and capital construction projects.
The expert identifies financing conditions as the main barrier for Ukrainian companies. While in Ukraine construction is often carried out using substantial advance payments, the EU commonly uses a post-audit payment model—based on the completion of specific project phases. This requires significant working capital, whereas Ukrainian companies have limited access to low-cost long-term loans.
To level the playing field, Ozeychuk believes the government should launch programs for affordable long-term loans backed by state guarantees, provide preferential financing for the modernization of Ukrainian building materials plants, simplify the adoption of EN standards, and advocate for Ukrainian businesses’ participation in international grant programs.
A separate challenge will be the construction industry’s transition to European design standards. By 2028, the Ukrainian system is expected to fully integrate into the European space and adopt Eurocodes. This will remove some barriers for foreign engineers but will also require Ukrainian specialists to rapidly upgrade their qualifications.
Among the technological trends in reconstruction, the expert cites BIM modeling, digital twins of buildings, energy-efficient solutions, and the concept of net-zero energy buildings. In his assessment, the market will shift toward rapid modular construction, eco-friendly materials, and innovative solutions.
Another key constraint will be a labor shortage. According to Ozeychuk, demobilized military personnel and men returning from abroad will only partially offset the labor shortage. High demand could lead to rising wages in construction, particularly for blue-collar jobs, and could also encourage the retraining of specialists from other sectors, as well as the more active involvement of women, veterans, and older workers.
In addition, Ukrainian companies are already beginning to collaborate with agencies that specialize in the official recruitment of construction workers from South Asian countries, including India, Nepal, Bangladesh, and Pakistan.
Ozeychuk believes that the two main principles of the future reconstruction are speed of implementation and the “Build Back Better” approach—that is, rebuilding to a higher standard than before the destruction. It is precisely these criteria that will determine the demand for modern materials, technologies, and production capacity in Ukraine.
Rauta is a Ukrainian company operating in the field of prefabricated buildings, facade and roofing systems, sandwich panels, and steel construction. The “Ukrainian Center for Steel Construction” Association brings together companies working in the segments of metal structures, building materials, design, and industrial construction.
CONSTRUCTION, Eurocode, INVESTMENT, OZEYCHUK, RAUTA, RECONSTRUCTION
The TAS Group has begun actively investing in real estate development and is carrying out major construction projects in Kyiv, according to the group’s founder, Serhiy Tihipko.
He said the group has begun construction of 220,000 square meters in Obolon and has purchased an additional 5 hectares for this project.
“In 2027, we will begin construction of 350,000 square meters on the Left Bank. This is a fairly large investment,” said Tigipko.
Thus, real estate development is becoming one of the group’s key investment areas, alongside the financial sector and agribusiness.
Such projects are important for Kyiv’s real estate market, as they can increase the supply of residential and commercial space in major districts of the capital. At the same time, real estate development remains a capital-intensive sector that is sensitive to demand, construction costs, the availability of financing, and changes in the population’s purchasing power.
The TAS Group was previously known primarily as a financial and industrial group; however, its active construction of large-scale projects demonstrates an expansion of its interests into real estate and urban development.
KSG Agro is investing over 25 million hryvnia in the creation of an autonomous water supply system for one of its pig farms and plans to fully supply it with water from its own sources by the end of 2026, the company’s press service reported on Wednesday.
“We are investing in capital solutions that allow us to minimize any dependence on external circumstances and ensure the uninterrupted operation of our production facilities. The autonomous water supply system will serve as a powerful safeguard against infrastructure risks and, at the same time, lay a solid foundation for reducing operating costs in the long term,” the press service quoted Serhiy Kasyanov, Chairman of the Board of Directors of KSG Agro, as saying.
According to the report, the project involves the reconstruction and modernization of Pumping Station No. 10, which will draw water from the “Dnipro–Kryvyi Rih” canal, as well as the upgrading of pipelines, the installation of new pumping equipment, automated metering systems, and digital water distribution management tools.
As noted in the press release, the project is based on the creation of the “Niva” water users’ organization, which brings together 189 landowners and land users in the region. In accordance with current Ukrainian legislation, the water users’ organization operates as a nonprofit and coordinates the provision of water supply services for the production and land reclamation needs of its members. The land reclamation network, which is being transferred to the organization’s management, covers 1,052 hectares and is one of the three largest irrigation systems in the Dnipropetrovsk region.
KSG Agro noted that the pig farm consumes approximately 20,000 cubic meters of water per month, and the implementation of the project is expected to reduce dependence on external infrastructure amid military risks, minimize water losses, and optimize operating costs.
The company estimates the payback period for the investment at three to four years.
KSG Agro is a vertically integrated holding company engaged in pig farming, as well as the production, storage, processing, and sale of grains and oilseeds. The company’s land bank in the Dnipropetrovsk and Kherson regions totals approximately 21,000 hectares. The agricultural holding ranks among the top five pork producers in Ukraine.
Serhiy Kasyanov remains the ultimate beneficiary of the holding company; through Olbis Investment LTD SA, he owns 47.83% of the shares, while 47.57% of the shares are freely traded on the Warsaw Stock Exchange.
AGRICULTURAL HOLDING, INVESTMENT, KSG AGRO, PIG FARM, WATER SUPPLY
92% of American Chamber of Commerce member companies in Ukraine continue to operate at full capacity after more than four years of full-scale war, according to the results of the “Doing Business in Wartime Ukraine” survey conducted by AmCham Ukraine in partnership with Citi Ukraine.
According to the study, nearly 70% of the companies that participated in the survey have been operating in Ukraine for more than 20 years. AmCham believes this demonstrates the resilience of these businesses and their long-term commitment to the Ukrainian market.
Despite the risks posed by the war, 87% of companies reported that their financial results in the second quarter of 2026 remained the same or improved compared to the second quarter of 2025. Only 13% of respondents reported a decline in performance.
Compared to 2021, before the war, nearly two-thirds of companies—63%—reported that their financial results remained stable or improved. At the same time, 37% of companies are still operating below pre-war levels.
Investment plans also remain stable: 87% of companies stated that their investments in Ukraine in 2026 will remain unchanged or increase compared to 2025. Of these, 54% plan to maintain their investment levels, while 33% plan to increase them.
The war continues to directly impact business. 47% of companies reported that their factories, production facilities, warehouses, offices, or other sites were damaged during the war. Among the affected companies, 46% have already fully restored their damaged assets, while 39% have completed partial repairs.
Half of the surveyed companies reported cases of employees being injured as a result of the war, and 37% reported employee fatalities. At the same time, 87% of companies have employees who are currently serving in the Armed Forces of Ukraine, and 60% are already hiring veterans.
71% of companies have already implemented, are developing, or have begun to roll out support and reintegration programs for veterans following demobilization. Specifically, 24% of companies have comprehensive policies for reintegrating veterans into the workforce, 20% are developing such policies, and 27% have already introduced initial support measures.
The main challenges for businesses remain employee safety (82%), issues related to mobilization and reserving employees (71%), and the threat of Russian missile attacks on critical infrastructure and business assets (63%). Among other challenges, companies cited the health and mental well-being of employees—50%—as well as attracting and retaining qualified personnel—44%.
At the same time, most companies do not plan to fill staffing shortages on a large scale with foreign workers. 63% of respondents stated that they are not considering hiring non-Ukrainian employees to address staffing issues, 25% are undecided, and only 12% are actively considering this option.
According to the business community, Ukraine will remain a stable but unpredictable market in 2026. This view is shared by 45% of respondents. Another 21% view Ukraine as one of the most promising markets for future growth in Europe, 18% consider it primarily a high-risk market focused on survival, and 16% see it as a market preparing for recovery.
Fifty percent of companies expect Ukraine’s economic recovery to become clearly visible 2–3 years after the end of the war. Another 18% believe that a gradual recovery is already underway, 16% see 2026–2027 as a possible turning point toward growth, and 16% believe that the recovery has not yet begun.
Respondents identified defense and military tech (78%), infrastructure and construction (71%), energy and distributed generation (50%), and agriculture and food processing (45%) as the key sectors for post-war recovery.
Companies consider Ukraine’s long-term growth potential to be the main factor driving investment attractiveness. 76% of respondents cited the vast opportunities for reconstruction and post-war economic growth as the primary driver of investment, 49% cited Ukraine’s path toward EU accession and integration into the European market, and 39% cited the potential of the defense and military tech sector.
Among the main barriers to business participation in reconstruction projects, respondents cited the security of reconstruction sites (56%), a lack of information and transparency regarding projects (55%), and an unclear legal and tender framework (55%).
The business community also outlined priorities for the government for 2026. Eighty percent of companies cited support for the rule of law, the fight against corruption, and genuine judicial reform as the top priority. Fifty-five percent pointed to the need to strengthen national security, defense, and demining efforts, while 44% emphasized the need for predictability and stability in tax legislation.
The “Doing Business in Wartime Ukraine” survey was conducted by AmCham Ukraine and Citi Ukraine from May 21 to June 16, 2026. It included 112 executives from AmCham member companies across various industries; 69% of respondents hold CEO positions.
Source: American Chamber of Commerce in Ukraine, Citi Ukraine
The TAS Group plans to invest $250–300 million in the authorized capital of banks, insurance companies, and other financial sector assets, according to the group’s founder and chairman, Serhiy Tihipko.
According to him, the group is the largest private Ukrainian owner in the financial sector and intends to continue strengthening its position.
“Today, we are the largest among private Ukrainian owners in the financial sector. And we are gaining momentum here. Therefore, whether we like it or not, we will have to invest in authorized capital. I think we’ll invest somewhere between $250–300 million just to increase authorized capital,” said Tigipko at the Concorde Capital investment conference in Kyiv.
The group also continues to consider deals to acquire financial assets. Tigipko reported that TAS was interested in acquiring the insurance company MetLife, but was beaten to it by Poland’s PZU.
“That’s okay, we’ll wait. I told Richard Branson: deals are like a bus—one leaves, another comes. We’ll wait for the next one,” he noted.
The financial division of the TAS Group includes, among others, TAScombank, Universal Bank (which operates the mono platform), and Idea Bank. For the group, further capital increases at its banks and insurance companies mean strengthening its market presence, where—following the war and sector consolidation—the importance of large private players may grow.
