Friday May 29, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
HP-Cosco deal rekindles Russian interest in local railways

 Officials visited to inspect rail network

By Alexandra Kassimi

Russian interest in investing in Greece has grown significantly over the last few days, as, following news that Gazprom was among the bidders for the Public Gas Corporation (DEPA) and gas network operator DESFA, officials from Russian Railways (RZD) have visited Athens to discuss a possible investment in the Hellenic Railways Organization (OSE).

It appears that the agreement between Hewlett Packard and Cosco for the US firm’s use of the Chinese company’s dock in Piraeus as its transit center for central European and the Mediterranean has reawakened Russian interest in the Greek rail company.

RZD officials traveled to Greece this week in order to inspect OSE’s infrastructure and its railway service operating subsidiary TRAINOSE.

Russian Railways had also expressed an interest in OSE in the past, but that had remained in theory. A meeting was held a few months ago between Russian officials and the Greek Development Ministry regarding the planned privatization of TRAINOSE, which plans foresee being sold in its entirety.

Previous government efforts to sell a 49 percent stake in the company failed, while the lukewarm investment interest in it was discouraged further by the minority stake on sale.

However, things are different now.

The inspection of the OSE network was deemed necessary by the RZD representatives as it is vital for the smooth operation of TRAINOSE. On Thursday they visited the company’s technical base and factories in Athens. It is no secret, however, that the OSE network is suffering problems and delays in the modernization projects it needs, which have led to a series of malfunctions and disruptions.

At the same time the Russian side has turned its attention to the interconnection of the railway network with the country’s main ports. The deal between HP, Cosco and TRAINOSE, which includes the completion of the extension of the railway line to the Piraeus suburb of Ikonio, will constitute a turning point for OSE as it will play a key role in the transport of goods following the link’s completion.

Last week the Russian officials visited northern Greece, as a planned railway link with the ports of Macedonia and Thrace, such as Alexandroupoli and Kavala, would provide easy access to the networks of Eastern Europe as well.

ekathimerini.com , Friday November 23, 2012 (21:26)  
Greek credit contraction amounted to 2.4 pct in April
Export-oriented firms benefit from euro rate
VAT hike would put several Athens hotels at risk
ATHEX: May ends with a rise of 0.3 pct
Greece, creditors seek breakthrough as clock runs down
Greece and its lenders enter a decisive weekend of negotiations in a bid to agree on a package of cuts and reforms that would unlock another 7.2 billion euros and allow Athens to keep meetin...
Coast Guard officials linked to migrant traffickers
An investigation by the internal affairs department of the Greek Police (ELAS) has linked the leadership of the country’s Coast Guard as well as officers of the police and of the National In...
Inside News
SOCCER
Wemmer pens three-year deal with Panathinaikos
German defender Jens Wemmer has signed a three-year contract for an undisclosed sum with Panathinaikos, the Greek Super League club announced on Friday. Right-back Wemmer, 29, has been playi...
SOCCER
Panathinaikos conquers PAOK through Tavlaridis goal
A Stathis Tavlaridis goal has brought Panathinaikos to practically within one point from clinching a spot in next season’s Champions League qualifiers, as the Greens made it three out of thr...
Inside Sports
COMMENTARY
Zenobia, Barbara, Christine and the general’s daughter
ATHENS – Lovely Palmyra has fallen to the zombie horde and its people are being slaughtered as the ancient city awaits its fate. It is Friday, May 22, 2015, and from my window I see the end-...
INTERVIEW
The eurozone’s ‘ambiguous’ architecture
“That’s not something you’re supposed to say in public, right?” In his humble way, Thomas Sargent, Nobel Prize winner in Economics, tries to avoid the question posed to him by Kathimerini re...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Wemmer pens three-year deal with Panathinaikos
2. Greek credit contraction amounted to 2.4 pct in April
3. Export-oriented firms benefit from euro rate
4. VAT hike would put several Athens hotels at risk
5. ATHEX: May ends with a rise of 0.3 pct
6. Greece, creditors seek breakthrough as clock runs down
more news
Today
This Week
1. Greece creditors say no deal near as G-7 frustration vented
2. Only Greece can end its miserable 'Groundhog Day'
3. Next Greek aid program isn’t on table yet, says Moscovici
4. 12 Russians injured in lightning strike at ruins on Crete
5. Some blame EU Commission for Greek obstinacy in debt talks
6. The eurozone’s ‘ambiguous’ architecture
Today
This Week
1. Hotel contracts with a ‘Greek default clause’
2. Some 300 mln left banks on Tuesday
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. No more 'quick and dirty' fixes for Greece
5. Romantic notions meet reality
6. Tsipras faces down radicals within SYRIZA over terms of deal
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.