Trainose to table its final bid for Rosco

Trainose to table its final bid for Rosco

Railway operator Trainose is on Friday expected to table its improved binding offer for the acquisition of state railway carriage maintenance company Rosco. Italian-owned Trainose is expected to raise its initial offer of 9 million euros to 20 million.

In return, Rosco will have the right to transfer almost half of its staff to other entities in the state sector. This clause will likely be included in the multi-bill to be tabled in Parliament on Friday, paving the way for Rosco’s privatization.

The maintenance company will then come into the hands of Trainose, against the wishes of many people within Rosco, including its management, which kept setting up obstacles to the process.

Trainose, which has belonged to Ferrovie dello Stato Italiane (FSI) since last September, has significant plans for Rosco. Its business plan includes an investment of 20 million euros in its infrastructure. The aim is to enable the railway carriage maintenance company to support FSI’s electric-powered TGV trains that the Italian company intends to withdraw from use in Italy. These engines could come to Greece and cut the journey time between Athens and Thessaloniki to 3.5-4 hours if the entire line is electric-powered.

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