Piraeus Bank announced that it will finance the development of the Thriassio Transit Center, which will help increase freight transport by rail and promote Greece as a major freight hub on the Trans-European Transport Network. The new Thriasio Transit Center is expected to become operational in 2024.
“Piraeus Bank are always looking for suitable investment projects that align with our strategy to be a pillar of stability for the Greek economy and we are proud to be financing such a significant infrastructure project in Greece,” Piraeus Bank CEO, Christos Megalou, said.
The 588-acre concession agreement for 60 years was signed between the Greek State, GAIOSE and the company Thek SA, which will carry out the project and with 80% of ETVA Industrial Area and 20% of Goldair. The financing of the project will be carried out with the participation of the company Thek SA and a loan from Piraeus Bank, which is a shareholder of ETVA Industrial Area of 65%.
The EUR 274 million project envisages the development of a modern complex in Thriassio Pedio. It includes the construction of a shunting yard, terminal for containers, custom-house, freight center, storehouses, group of tracks for stabling wagons with dangerous loads, washing facilities, as well as all the necessary installations for facilitating the activities.
The Thriassio rail transit center project was implemented into two phases, both completed. The first one included the construction of infrastructure works, track-laying, road works, networks for irrigation, water, sewage and fire extinction, construction of certain railway installations.
The second phase involved the construction of the superstructure of the remaining railway tracks inside the complex, the construction of lines’ electrification and the installation of signalling and telecommunication systems. The construction of the project was completed in the first half of 2018.
The Center will significantly increase freight transport by rail and promote Greece as a major freight hub in the trans-European transport network. It will contribute to the provision of upgraded services while also reducing transport costs, which are key factors in lowering the final price of products, having a direct positive impact on the competitiveness of the economy and GDP growth.
Share on:
