18022018Headline:

Trenitalia will invest 500 mln euros in TrainOSE, Italian ambassador tells chamber

Italy’s Trenitalia will invest around 500 million euros in rolling stock to upgrade the Greek railways TrainOSE, Italian Ambassador to Greece Eficio Luigi Marras said in Thessaloniki on Monday.

Trenitalia is owned by state-run Ferrove dello Stato, which bought a 100% stake in TrainOSE in September 2017.

At a meeting with the directors of the Trade and Industrial Chamber of Thessaloniki, Marras said that Trenitalia plans to bring the Greek railway system up to par with the Italian and to connect Greece with northern Europe by rail.

The ambassador also spoke of high-level contacts between the prime ministers and foreign affairs ministers of both countries to improves bilateral trade and economic relations.

Chamber president Diamantis Masoutis noted the importance of Italy in Greek trade and the opportunities offered by northern Greece in other sectors as well like tourism. According to the Greek statistics service (ELSTAT), Italy accounts for most of Greek exports (11.2%), while Italian products come second in imports to Greece (8.8%).