In a landmark move to modernize the national rail network, the Greek government has officially signed a revised contract with Hellenic Train, the subsidiary of Italy’s state-owned Ferrovie dello Stato.
The agreement, finalized on Monday, unlocks €420 million ($494 million) in direct investments and establishes a rigorous new framework for safety, accountability, and service quality.
The government says that the deal represents the largest private investment in Greece’s land transport history and the first major procurement of new rolling stock since the 2004 Olympic Games.
- €308 Million for New Fleet: The full cost for the purchase of 23 state-of-the-art electric trains.
- €112 Million for Infrastructure: Dedicated to constructing new maintenance depots, upgrading existing facilities, and implementing advanced digital management systems.
Next-generation trains
At the heart of the overhaul is the order for 23 Coradia Stream electric multiple units (EMUs) from manufacturer Alstom. These next-generation trains are designed to transform the passenger experience:
- Route Allocation: 12 units will serve the primary Athens–Thessaloniki axis, while 11 will bolster suburban networks in Attica and Thessaloniki.
- Modern Amenities: Features include low-floor, step-free boarding, adjustable LED lighting, enhanced sound insulation, and dedicated zones for bicycles and luggage.
- Performance & Safety: With a top speed of 160 km/h and a 10% reduction in energy consumption, the trains will fully integrate the European Train Control System (ETCS) for automated safety and speed regulation.
Accountability and digital oversight
The Greek government says that for the first time, the Greek state has secured binding guarantees to protect the public interest:
- The “2027 Deadline” Clause: A strict termination clause is now in effect; if the new fleet is not delivered by 2027, the state reserves the right to cancel the contract.
- Digital Geolocation: Moving away from paper-based reporting, a new real-time GPS monitoring system will track every route, ensuring transparent performance data and accurate penalty calculations.
- Passenger Rights: Compensation for commuters in the event of serious service disruptions or “immobilizations” has been doubled.
“This is a new start for the Greek railway,” stated Deputy Prime Minister Kostis Hatzidakis. “We are correcting decades-long weaknesses to build a modern, European-standard network that will regain the trust of our citizens.”
The agreement follows the strategic vision established by Prime Ministers Kyriakos Mitsotakis and Giorgia Meloni during their May 2025 summit, cementing a partnership that positions Greece as a key logistics player in the Eastern Mediterranean.