The restructuring brings together infrastructure management, asset maintenance, and real estate administration into a single operational entity.
A new state-owned company, “Greek Railways Single Person S.A.” (Ελληνικοί Σιδηρόδρομοι Μονοπρόσωπη Α.Ε.), has been formed through the merger of OSE, ERGOSE, and GAIAOSE Rolling Stock.
The reorganisation is intended to align infrastructure management with EU governance and operational frameworks, centralising responsibilities for the maintenance of railway infrastructure, leasing of railway properties, and personnel oversight. Rail safety is identified as a key area of focus.
OSE (Organismos Sidirodromon Ellados), originally established in 1971 as the successor to the Hellenic State Railways (SEK), has undergone numerous structural changes. ERGOSE was created in 1996 to manage infrastructure projects, particularly those co-financed by the EU, and GAIAOSE was spun off in 2001 to oversee station maintenance and railway property leasing. In 2005, OSE also launched TrainOSE as a passenger operations brand. TrainOSE was privatised in 2017 and is now a wholly owned subsidiary of Ferrovie dello Stato Italiane. Its former rolling stock maintenance arm, ΕΕΣΣΤΥ, was acquired by the same group in 2019.
The Greek railway network spans approximately 2,293 km, although only around 1,800 km are in regular use. In 2023, Storm Daniel caused widespread destruction across Thessaly, including the washout of 50 km of track and damage to signalling systems, including ETCS infrastructure. Restoration efforts continue in some areas, with replacement bus services in operation on certain routes.
Passenger operations
Passenger services on the Greek railway network are currently operated by:
- Hellenic Train: The primary passenger rail operator, formerly part of OSE, now owned by Ferrovie dello Stato Italiane. It operates long-distance, regional, and suburban (Proastiakos) services across the country.
Freight operations
Freight transport is handled by several licensed operators, including:
- Rail Cargo Logistics Goldair: A joint venture between Austria’s ÖBB and Goldair Group, operating intermodal and conventional freight services.
- Pearl (Piraeus Europe Asia Rail Logistics): Focused on linking the Port of Piraeus with Central and Eastern Europe via rail corridors.
- Grup Feroviar Român: A Romanian-based operator active in freight movements within Greece and across borders.
In December 2024, the government announced the reintegration of ERGOSE into OSE, a step that preceded the full merger into the newly created Greek Railways company. In 2025, an agreement was signed with Deutsche Bahn for technical and operational assistance. Through its subsidiary DB International Operations, the German operator will provide support with staff training, infrastructure planning, and service improvements.
The BoD of Greek Railways
According to Metaforpress, the Board of Directors of the newly formed Greek Railways includes:
- George Ioannou – President
- Christos Palios – CEO
- Chrysa (Kristi) Agapitou – Vice President
- Evangelos Christogiannis – Deputy CEO
- Athanasios Staveris – Board Member
- Katerina Demerouti – Board Member
- Marios Boboulos – Board Member
The new entity assumes control over the state-owned railway infrastructure, while licensed companies continue to operate passenger and freight services on the network.