OSE has troika’s blessing for routes

Greece’s troika of international lenders have given the green light for Trainose, the operational arm of the Hellenic Railways Organization (OSE), to run OSE’s state-subsidized routes for the next five years, Kathimerini understands.

The approval is seen as a significant step toward boosting OSE ahead of its planned privatization. With 50 million euros in annual state funding secured for routes to remote destinations, OSE is expected be more attractive to potential investors.

The one remaining hurdle is to secure the approval of the European Commission which must rule on whether the subsidies for OSE constitute illegal state funding.

The tender for the sale of OSE is to start by the end of the second quarter of 2013, government officials said last month.