ECONOMY

State signs new contract with TrainOSE on railway services

State signs new contract with TrainOSE on railway services

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 A. Karamanlis, Finance Minister Christos Staikouras and TrainOSE Chief Executive Officer Maurizio Capotorto, the Greek state will pay €50 million 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.