A third private rail carrier, Piraeus Europe Asia Rail Logistics (Pearl), is close to entering the up-until-recently closed domestic market of Greece, after the relevant regulatory body for rail transport in the country has approved its license. Piraeus-based Pearl S.A. operates under the Cosco umbrella, while its CEO, Athanasios Ziliaskopoulos, is the former CEO of previously state-run rail operator Trainose.
The development comes amid a proposed EUR 300 million investment by the Hellenic Railways Organisation (OSE) to build a logistics center at a 165-hectare site in an industrial district west of Athens proper (Thriasio) – in tandem with a new 17-kilometer rail connecting the district with the port of Piraeus. Shanghai-based Cosco, a state-controlled multinational and shipping giant, assumed the management of the Piraeus Port Authority in August 2016, along with a 67-percent stake in the latter.
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