ECONOMY

Trainose lands state-subsidized rail services

trainose-lands-state-subsidized-rail-services

Italian-owned rail service operator Trainose has earned the contract for state-subsidized services to remote areas for the next 10+5 years, amounting to 750 million euros.

However, the company has to implement total investments of 2.2-2.5 billion euros within the next nine years, according to the memorandum of cooperation signed on Friday by Trainose and Infrastructure Minister Kostas A. Karamanlis, in the presence of the Italian ambassador.

According to European Union legislation, each year, Trainose can propose the inclusion or exclusion of routes in the set of subsidized services, probably based on passenger demand.