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European Commission gives go-ahead for Greek trains operator's privatisation

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The European Commission has given the go-ahead for the privatisation of Greece's trains operator TRAINOSE, which runs trains in Greece's railway network.

"The European Commission's approval of the start of TRAINOSE's privatisation opens up a new chapter, not just for the history of rail transport but also for the investment sector in our country," Infrastructure, Transport and Networks Minister Mihalis Chrysohoidis said on Monday, commenting on a letter he received from European Commission Vice-President Joaquin Almunia.

Almunia stressed the benefits of TRAINOSE's upcoming restructuring and privatisation, noting that the move will free the company from the issue of state subsidies, ensure its survival and growth and restore Greece's railways to the "centre of European competition", with significant benefits for both passenger and goods traffic.

According to sources, there is strong interest in the privatisation process for the Greek railway network, with potential investors including private companies and the state railway companies of Russia, China, France, Romania and two U.S. companies.

Source: Athens News Agency

Last Updated Tuesday, 09 July 2013
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