MILAN, Oct. 10 (Class Editori) -- FS is set to boost the railway sector in Greece. This is why the group led by Gianfranco Battisti is studying how to integrate the subsidiary Trainose and Rose, the Greek train maintenance company acquired by Trenitalia in 2018. Sources from the company referred to classxhsilkroad that operations should be concluded by the end of this year. The merger aims at developing synergies between the two companies to improve standards of the Trainose service.
In the FS half-year report is written the intercompany financing of 25 million euros expiring on December 29, 2028 to acquire the entire share capital of Rosco. The maintenance company closed 2018 with 35 million euros of revenues, 99 percent of which derived from works with Trainose, increasing by 9.4 percent compared with that of 2017.
The Greek railways revival plan presented in 2017 provided for investments of more than 500 million euros to renew the rolling stock, the technological upgrade and to open new routes. In particular, it will mainly focus on the Athens-Thessaloniki line upgrade, which connects the two main cities in Greece, in the attempt of reaching the same success achieved in Italy with the Rome-Milan high speed railway.
The plan foresees also the entry, during the first six months of 2020, of the improved ETR 470, which will be used precisely for the Athens-Thessaloniki route, doubling the daily travelers.
One of the key points of the industrial plan presented last May is the growth in the Europe as well as outside of it. The international activity, based on programs, will allow the group to increase revenues up to 2.3 billion euros by 2023.
The enhancement of the ability in the infrastructure and transport project management in non-European markets will consist of development, management and maintenance services of railway lines, both high speed and regional, integrated mobility in the metropolis, infrastructure, goods and logistics, expert advice and staff training. These targets are the reasons of the establishment of a NewCo dedicated at the activities outside Europe and a competence center for those carried out in Europe.
Ferrovie dello Stato operates in sixty countries through partnerships, joint ventures and their FS International business unit established in June 2018.
(Source:Class Editori)
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