Renegotiation of the contract with the Italians for the Greek railways begins

The new leadership of the Ministry of Infrastructure and Transport is making a decisive attempt to dismantle the entrenched bureaucracy that ruled the Hellenic Railways Organization (OSE) for decades, leading to the chronic dysfunctions that have brought Greece’s railway system to its lowest point in history. Yesterday, the first meeting with Hellenic Train took place, confirming plans for renegotiating the contract with the Italian stakeholders.

The restructuring of the Greek railway system is progressing, with the ministry’s leadership stating that the government is determined to tackle all challenges and establish a modern corporate structure that will fast-track the necessary projects. Within this framework, restoration work on the Thessaly railway network—devastated by the Daniel storm—will commence within the next two months, aiming for completion by 2027, as the Prime Minister has already outlined. The ultimate goal is to deliver a fully upgraded and safe rail network connecting Athens to Thessaloniki.

In the near future, the unified railway company “Greek Railways” will also be ready following the triple merger of OSE, GAIAOSE, and GAIAOSE rolling stock. It was estimated yesterday that the company will be fully operational before the end of the year.

The core operational model of this new company will be inspired by the restructuring of the Public Power Corporation (DEI), a company that teetered on the brink of collapse—one step away from bankruptcy—before managing, in just a few years, to transform into a success story through modern management practices, market-driven executive recruitment, and a flexible approach to organization and operations.