TrainOSE, the Hellenic Railways operational branch, and its Italian owners will invest 2.5 billion euros in Greece in the next nine years, Infrastructure & Transport Minister Kostas Karamanlis said on Friday, according to ANA.
The memorandum relates to the renewal of the collaboration between the state and TrainOSE for the public railway network, including lesser-used routes, for 10 plus 5 years. TrainOSE will continue to be subsidized with 50 million euros annually, or 750 million euros in total, for all less-used branches, but on condition that TrainOSE itself will invest 2.2 to 2.5 billion euros in the first nine years. The investments will relate to rolling stock and its upgrade, additional schedules, as well as the upgrade of the rolling stock facilities, among other things.
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