TRAINOSE Invests €70 Million in 2020 Despite Covid-19

Greece’s railway service operator TRAINOSE in 2020 invested 70 million euros to upgrade its infrastructure and develop new services, despite the severe drop in passenger traffic caused by the coronavirus (Covid-19) pandemic.

In an announcement, TRAINOSE said its 2020 investment program included the upgrade of its facilities in Thessaloniki, the reconstruction of the first of five trains to be included in its fleet and expenses for the company’s relocation to new offices in the center of Athens.

The railway company in 2020 saw its revenues from passenger traffic drop by 44 percent compared to 2019 due to the Covid-19 pandemic.

TRAINOSE also cited problems on its infrastructure caused by severe weather phenomena.

On the other hand, the company said that its revenue from freight transport increased by 0.18 percent.

Moreover, despite the deteriorating economic environment and uncertainty over the course of the pandemic, TRAINOSE last year managed to protect its employees and maintain jobs, as well as sign a new collective labor agreement that also covers its technical staff.

In 2021, the company plans to renew its corporate image by proceeding with new targeted investments that will offer upgraded services to its passengers; acquiring new modern rail equipment; tapping into the benefits of new technologies; entering the logistics sector through its facilities in Thriasio; and hiring specialized personnel.