The Greek government strategically secured a deal in Rome, convincing Hellenic Train, an Italian company, to invest directly in Greek railways.
This agreement marks a significant step forward, allowing the Italians at Hellenic Train to agree to invest in the Greek rail system.
Prime Minister Kyriakos Mitsotakis emphasized the importance of a safe railway system with modern trains before 2027, laying the foundation for negotiations to amend the contract with Ferrovie Dello Stato Italiane, the parent company of Hellenic Train.
Despite initial hesitations, the Italians committed to a €360 million investment plan, which includes purchasing 23 new trains—8 intercity express trains and 15 suburban trains. Notably, this marks the first acquisition of new suburban trains since just prior to the 2004 Olympic Games.
New Trains with Enhanced Safety Features
As part of the agreement, new trains will be ordered this year to replace the outdated “silver arrows,” which are over 30 years old and were introduced under a previous contract in 2017. The current fleet’s age contributes significantly to the Greek railway’s challenges, with an average of 1.7 breakdowns per day. Importantly, the new trains will come equipped with modern safety systems.
The Rome agreement also includes the establishment of modern depots for long-term train maintenance, addressing another critical issue: the inadequate maintenance of existing trains.
Konstantinos Kyranakis: A New Era for Railways
Deputy Transport Minister Konstantinos Kyranakis stated, “The Italians are investing, and we are working diligently together to create a railway that citizens deserve. With new trains and infrastructure, we are turning a new page for the country. This collaboration has future potential, and we are building solid foundations for the years ahead,” as reported to APE-MPA.
Key Factors in Convincing the Italians
A pivotal moment in negotiations occurred during Deputy Transport Minister Constantine Kyranakis‘ meeting with Italian Deputy Prime Minister and Transport Minister Mateo Salvini two weeks ago.
At this meeting, the deputy minister, in close coordination with Maximou, presented compelling arguments that ultimately swayed the Italians to commit to the investment initiative.
The recent signing of contracts worth €450 million for upgrading the railway network in Thessaly, with a strict timeline for public projects and a 15-month implementation window, also played a significant role in finalizing the agreement. This was formalized shortly after discussions between Prime Minister Kyriakos Mitsotakis and his Italian counterpart, Georgia Meloni.
Greece’s Commitment to Groundbreaking Projects
The Greek side assured credibility by committing to vital network enhancement projects, including the installation of the ETCS automatic braking system and telecommand across the network, an underground project at Sepolia, and new safety measures outlined in an upcoming bill for railway modernization: Unified Supervision Centre, an accurate geolocation system for trains, and anti-sabotage measures.
The Italian company Ferrovie dello Stato’s commitments will be reflected in the revised contract between the Ministry of Infrastructure and Transport and Hellenic Train, which will include specific timelines. This will also apply to OSE’s responsibilities for fast-tracked projects.
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