Greek-Austrian venture to launch train route in January

Greek-Austrian venture to launch train route in January

Rail cargo logistics Goldair, a Greek-Austrian joint venture, is expected to launch its first train route in northern Greece by the end of January, the company said Wednesday.

In an bid to open up the market, Greece has awarded a licence to the joint venture to operate its own trains on the national railway network, in a sector estimated by some experts to be worth 100 million euros.

The company, comprising of Austria's Rail Cargo Group and Greece's Goldair, will start off with the train route linking Thessaloniki to Eidomeni, on Greece's northern border. It also plans to soon launch its Athens-Thessaloniki line.

"We would have liked to started yesterday but we hope that by the end of the month we will complete our first trip," said Goldair executive vice president Kallinikos Kallinikos. "The growth potential of the train cargo business in Greece is very big," he added.

The joint ventures plans to invest 20 million euros over the next five years as part of expansions plans.