Leading Ukrainian media Ukrainska Pravda has published an in-depth feature examining the Ukrainian companies that have not only stayed afloat during four years of full-scale war but are actively investing in their own development and in the country's future. SCM companies DTEK and Metinvest are featured prominently as among the most significant investors of the wartime period.
The article sets out the wider economic context. Capital investment in Ukraine reached UAH 669.3 billion ($16 billion) in 2025, an increase of 25.2% on the previous year. Investment in fixed capital is estimated at 20% of GDP, the threshold at which meaningful economic growth becomes possible. Critically, 71.2% of all investment is financed by companies' own resources, meaning Ukrainian business is largely sustaining the country's recovery from its own balance sheet.
DTEK is identified as Ukraine's single largest investor. Since the start of the full-scale war, the company has invested EUR 2.2 billion in supporting the operation of the national energy system — described by Ukrainska Pravda as the largest volume of investment made by any Ukrainian company during the war. Funds have been directed to the restoration of thermal power plants and grid infrastructure following russian attacks, support for coal and gas production, and development of renewable energy projects. Since 2022, all DTEK thermal power plants have been damaged, more than 220 attacks have targeted its TPPs, thousands of grid assets have been hit, and over 30,000 km of power lines damaged.
Wartime commissioning by DTEK includes the first stage of the Tyligulska wind farm, with total project investment of EUR 650 million — of which EUR 370 million is credit financing under guarantees from Denmark's Export and Investment Fund. In 2025 the company commissioned a 200 MW battery energy storage system at a cost of EUR 125 million. DTEK is now preparing construction of the Poltava wind farm, with planned investment of EUR 1.2 billion — set to be the largest single renewables investment of the wartime period.
Metinvest is highlighted as one of the principal investors of the wartime period in the processing industry. The company invested $910 million in production and energy independence between 2022 and 2024. Investment of $300 million was planned for 2025, rising to $500 million in 2026. Cumulative wartime investment by Metinvest already exceeds UAH 50 billion ($1.2 billion), and may pass UAH 70 billion ($1.7 billion) within the year.
Both investment programmes reflect the long-standing strategy of our shareholder Rinat Akhmetov: to commit capital to Ukraine's national resilience and to its European integration, sustaining the industrial and energy base on which the country's post-war recovery will be built. As Ukrainska Pravda concludes, Ukrainian business has used the wartime period to lay strong foundations for accelerated growth once external financing becomes more accessible — building a post-war economy grounded in resilience, technology, and the ability to adapt to any conditions.
