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Greece, TrainOSE sign 750-million-euro contract

Featured Greece, TrainOSE sign 750-million-euro contract

The Greek state and TrainOSE on Thursday signed a new contract worth 750 million euros, covering so-called unproductive lines in the country. 

Under the agreement, signed by Infrastructure and Transport Minister Kostas Karamanlis, Finance Minister Christos Staikouras and TrainOSE CEO Maurizio Capororto, the Greek state will pay 50 million euros annually for the next 10 years, with an automatic extension of another five years, to TrainOSE as a subsidy for operating these unproductive railway lines. The new contract will ensure more and safer railway services, clauses, modern trains and investments in the country's railway network.