Business news from Ukraine

Business news from Ukraine

Construction has begun on Tera Hall shopping and entertainment center in Chernivtsi, featuring Silpo and Kraina Mriy

Construction has begun on the Tera Hall shopping and entertainment center (Chernivtsi, 236 Ruska St.), with its opening scheduled for the third quarter of 2028, according to the press service of the consulting firm Retail & Development Advisor (RDA), which serves as the exclusive broker for the shopping center.

According to RDA CEO Andriy Lototsky, the total area of the four-story complex will be 16,150 square meters, with 11,600 square meters dedicated to retail. The shopping center’s anchor tenants will be the Silpo supermarket and the Kraina Mriy children’s entertainment center. Other retail chains will include stores selling clothing and footwear, home goods, household appliances, jewelry, books and stationery, as well as impulse-buy items and service providers. According to him, the project’s target audience will be families with children, motorists, and active young people aged 20–40, and the estimated projected traffic for the shopping center will be approximately 10,000 visitors per day on weekdays and 13,000–14,000 on weekends.

As Tera Hall Director Svitlana Gomeniuk clarified, the permit for the construction of the shopping center was obtained in January 2026, after which preparatory work began on the site. By the end of this year, the developer plans to complete the monolithic and main structural work.

“It is of fundamental importance to us that the complex complies with modern building codes, safety standards, and energy efficiency requirements. Solar panels are planned for its roof, which will ensure autonomous power supply, and heating will be provided by its own gas boiler room,” Gomenyuk said.

The preliminary design of the complex was developed in collaboration with the architectural firm Guess Line Arch. As part of the project, the developer will also build a large parking lot with 240 spaces; in case of air raid alerts, the shopping center will feature a shelter designed to accommodate 1,500 people.

Retail & Development Advisor is a Ukrainian consulting company that provides a full range of services in the field of retail and office real estate. It offers services in architectural concept development, brokerage, property management, outsourcing of shopping center development/leasing departments, market analytics, and more.

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Serbia to build its first nuclear power plant with France, says minister

According to Serbian Economist, Serbia plans to start construction of its first nuclear power plant by 2035 and is cooperating with French energy company EDF as part of its preparations, Minister of Mining and Energy Dubravka Jedovic Handanovic said in an interview with RTS.

The minister stressed that EDF can help Serbia with its experience and knowledge in preparing the project. At the same time, she said, no decision has yet been made on the specific technology for the future nuclear power plant.

The preparatory process for the construction of the nuclear power plant is estimated to take approximately four years: by mid-2027, the authorities intend to complete the first phase, which involves analyzing the regulatory framework and requirements, after which the second phase, including preparation for construction, will begin. The ministry noted that the first additional studies are planned to be carried out jointly with EDF with the support of the French Development Agency (AFD) on the basis of an intergovernmental agreement between Serbia and France.

Against the backdrop of the launch of the nuclear agenda, Serbia is simultaneously in contact with other potential partners and technology suppliers.

Potential partners and companies involved in the preparation and negotiations:

France – EDF (as well as Egis Industries as part of the preliminary technical study contractors).

Serbia also signed a memorandum with Korea Hydro & Nuclear Power (KHNP, South Korea) on cooperation in the field of nuclear energy and personnel training.

Serbia considered Rosatom (Russia) as a possible partner for the exchange of experience.

Separately, it was reported that Emirates Nuclear Energy Company (ENEC, UAE) was ready to share its roadmap for the development of a nuclear program.

The United States (agreements/information exchange between regulators and willingness to support program preparation) and China (memorandum with the China Institute of Atomic Energy) were also mentioned in the context of contacts.

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Lisy Ukrainy plans to implement more than 60 projects for construction and reconstruction of forest roads

The state-owned enterprise Lisy Ukrainy plans to implement more than 60 projects for the construction and reconstruction of forest roads with a total length of more than 200 km in 2026, the company’s press service reported.

“Only paved roads can ensure stable production in any season. Our investment plan is aimed at ensuring energy independence and uninterrupted timber supplies, especially during the spring mud season, which usually paralyzes traffic on dirt roads,” the state-owned enterprise wrote on its Facebook page.

According to the plan, the largest number of facilities are planned in the Carpathian (19), Polissya (15), and Capital (11) forest offices. New construction is also planned in the Northern, Podolsk, and Central regions. The projects involve the creation of roadways and the construction of intermediate warehouses for the storage, sorting, and shipment of forest products.

As an example of the economic effect, the company cited the Ozernyansky Forestry (Ivano-Frankivsk region), where, thanks to the new road, the annual harvest will increase from 15,000 cubic meters to 17,000 cubic meters. In the Zhubrovitsa Forestry (Zhytomyr region), construction will allow 1,000 hectares of the Forest Fund, which were previously only accessible during periods of frost or drought, to be used for economic activities.

In addition to production indicators, the projects have social significance. In particular, in the Lyuboml district of Volyn, a new road between the villages of Borove and Sokol will shorten the route for local residents by 15 km, which will significantly facilitate logistics and access to firewood.

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Kazakhstan will invest $118 million in construction of new plant for  production of gelatin

KAZGELATIN LLP intends to build a plant in Almaty region to produce gelatin with capacity of 10 thousand tons per year, the press service of the Ministry of Agriculture of Kazakhstan reported.

“The project provides for the construction of a plant in Alma-Ata region to produce food gelatin and products of deep processing of animal by-products – hides, bones and other collagen-containing raw materials,” – said in the message following the meeting of Deputy Minister of Agriculture Ermek Kenzhekhanuly with representatives of the company.

In addition to the main products, the plant will produce collagen components, fodder proteins and technical fats. Total investment in the project is estimated at 58 billion tenge ($117.9 million at current exchange rates).

“Currently, the domestic market’s needs for food gelatin are fully covered by imports, despite the availability of a sufficient raw material base in the country. Kazakhstan has significant volumes of animal by-products, which, if properly processed, can become a source of high value-added products. The launch of production will reduce import dependence, increase the level of processing of agricultural raw materials and strengthen food security,” the ministry said.

Special attention was paid to the creation of a network of procurement organizations in the regions to accept hides and bones of farm animals.

As reported, in January “daughter” of Turkish Iskefe Holding began to build a plant in Almaty for the production of food gelatin with a capacity of 7 thousand tons per year. The products of this enterprise will be used in food, pharmaceutical and cosmetic industries.

According to the Ministry of Agriculture of Kazakhstan, in the sphere of processing of leather raw materials there are 11 enterprises in the country, capable to process annually 3.3 million hides of cattle and 3.1 million hides of small horned cattle. However, the actual level of processing remains low: in 2024, only 5.9% of raw materials were sent for processing, 7.7% were exported, and 86.4% remained unclaimed.

Within the framework of a comprehensive plan for the development of processing of agricultural products for 2024-2028, it is envisaged to create more than 70 collection points for wool and about 200 collection points for hides to form a stable raw material base for processing enterprises, the department said.

 

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Ukrcement calls on communities to make more active use of concrete in road construction

The Ukrcement Association advocates for the wider use of cement concrete technologies in road construction in Ukraine and calls on communities to prepare standard solutions and a package of regulatory documents for the rapid restoration of damaged sections, the association announced following the results of the scientific and practical seminar “Cement-concrete roads: technologies, standards, prospects,” which took place on February 11 in Kyiv.

In her report, Lyudmila Krypka, executive director of the Ukrcement association, emphasized the cement industry’s ability to fully supply the domestic market with cement. She also highlighted the transition to European standards in products and regulation, in particular GOST EN 197-1 and the requirements for declarations and the responsibility of participants in the construction product supply chain.

According to Ukrcement, in the context of infrastructure restoration, concrete technologies can be a practical tool for communities both for the construction of individual sections and for road repairs, and the immediate task is to develop standard designs, materials, and technologies that allow restoration work to be carried out in many cases without the involvement of large road companies.

“The most difficult times are times of change. It is important to use these changes for the benefit of the country’s development,” Krypka emphasized, stressing the importance of implementing best practices using domestic building materials that create added value for the economy.

As noted by the association, the development of cement-concrete roads is of strategic importance and could become one of the drivers of the country’s recovery and the formation of a sustainable European-level infrastructure.

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Prices for construction and installation works in Ukraine rose by 5.8% in 2025

Prices for construction and installation works in Ukraine rose by 5.8% in 2025 compared to 2024, according to the State Statistics Service (SSS).

According to the statistics agency, the growth in prices for construction and installation works in 2025 slowed down somewhat compared to previous periods: in 2024, the growth was 7.9%, in 2023 – 15.8%, and in 2022 – 27.4%.

Last year, prices rose in all segments of construction: in residential construction by 6.3% compared to 2024, in non-residential construction by 6%, and in engineering construction by 5.4%. At the same time, in December 2025 compared to December 2024, prices rose by 5.7%, 5.8%, and 5.3%, respectively.

The State Statistics Service noted that in December 2025 compared to November 2025, price growth was 0.4%.