What was discussed at the conference “Railways of Ukraine: Development and Investment”

On April 23, 2026, the VIII International Conference “Railways of Ukraine: Development and Investment” took place in Ukrainian Chamber of Commerce and Industry in Kyiv. The event brought together representatives of government authorities, businesses, Ukrainian Railways (JSC “Ukrzaliznytsia”), freight forwarders, logistics companies, cargo owners, and repair and service enterprises to discuss key strategic issues in the sector.

During his speech, Deputy Minister of Finance of Ukraine Oleksandr Kava noted that the Government is considering transforming the Road Fund into a Transport Fund. This would allow allocating part of fuel excise revenues not only to road construction and reconstruction but also to the needs of the railway sector.

According to him, the Ministry of Finance, together with the Ministry for Communities and Territories Development, is currently working on the possibility of restoring the Road Fund in the 2027 state budget, followed by its further transformation.

Deputy Minister for Communities and Territories Development Oleksii Balesta reported that Ukrainian Railways is considering the use of locomotives owned by private companies for freight transportation. A mechanism for engaging a private locomotive fleet is already being developed with one of the companies. Specialists are working on interaction models that would enable integration of private rolling stock into the operations of the national carrier.

However, despite these developments, the full-scale introduction of a private traction market is not yet under consideration due to the lack of an appropriate legislative framework.

Director of Strategy and Transformation at Ukrainian Railways Oleh Yakovenko informed participants that in 2026 freight transportation may become loss-making for the first time. Previously, Ukrzaliznytsia used a cross-subsidization model where freight operations supported passenger services, but these resources are now essentially exhausted. This will inevitably affect the company’s already challenging financial condition.

Therefore, the issue of increasing freight tariffs—last revised in the summer of 2022—remains highly relevant.

Overall, the conference program was structured into four thematic blocks:

• Development of Ukraine’s railway sector
• Competitiveness of freight transportation
• Rolling stock: modernization vectors
• Railway infrastructure projects

Photo source: freepik.com