ECONOMY

Key railway track inaugurated

A new railway track that will connect the container terminal in Neo Ikonio, near the main port of Piraeus, to the Thriasio Plain, Greece’s main logistics hub, is being inaugurated on Thursday.

Construction of the 17km-long cargo line, which effectively links Piraeus to the trans-European railway network, was announced in 2000 but the project was held back by financial problems.

Completion of the track is key to a deal between US electronics giant HP, Chinese port operator Cosco and Greek rail service operator TRAINOSE.

It is estimated that Piraeus saves Asian exporters about a week of travel compared to the ports of Rotterdam, one of the world’s biggest, or Hamburg.