Russia Eyes Trainose, Rosco, Thessaloniki Port



 

 

Russian Railways President Vladimir Yakunin sees potential in Greek transport
Russian Railways President Vladimir Yakunin sees potential in Greek transport

Russian Railways is interested in buying the Greek railway company TRAINOSE, the repair company Rosco and the Thessaloniki Port, having submitted an initial application of interest in the framework of the provided procedures, said Russian Railways chief Vladimir Yakunin, who is a close associate of Russian President Vladimir Putin.

And now we will see what is being developed there and under what conditions. As far as I understand, Greece was getting prepared to end this issue by the end of the year,” Yakunin told the Russian news agency Interfax.

Under the terms of the privatization process, the applications must be submitted by the end of September. The Thessaloniki port is one of the two major ports of Greece. In 2012, 4.4 million tons of goods and 317,000 TEU were transported through the port which showed a net profit of 5.13 million euros.

TRAINOSE carries almost 4,5 million tons of cargo and 15 million passengers annually and the company’s income for 2012 was 140.7 million euros but its profit was a mere 1.3 million euros.

The transport companies are among those on the block as Greece seeks to sell off state enterprises as demanded by international lenders who are putting up $325 billion in two bailouts and want the government to cut spending and reduce a staggering $390 billion debt.