Creating a logistics hub for Southeastern Europe

Jan 2020 Creating a logistics hub for Southeastern Europe

State-owned Gaiaose is playing a significant role in the development and modernization of Greece’s logistics capacity, rail transportation system, energy generation and  its city centers.

Greece has nearly everything it needs to be a regional logistics hub, says Perikles Nicolaou, CEO of Gaiaose: “We have our shipping industry, ports and strategic location. But we need to enhance rail infrastructure to support the freight coming into or though Greece.” As the state-owned company responsible for managing and exploiting Greece’s rail-related real estate, as well as leasing and maintaining public rolling stock, Gaiaose is playing a vital role in advancing that infrastructure.

Within its portfolio of 100,000 acres of land and 4,500 buildings, “We have large pieces of land in Athens, Thessaloniki and Alexandroupolis that we are developing into logistics centers,” he states. Gaiaose is further facilitating rail transport by starting an extended maintenance program to refurbish its locomotives and passenger wagons that will boost rail services. 

10% of Gaiaose’s estate is leased out but, says Nicolaou: “We have many other attractive assets. For example, we want to modernize stations and develop areas around stations in cities like Thessaloniki and Piraeus by constructing things like new shopping malls, office spaces, cinemas and green spaces. 

Gaiaose also has an increasing role in producing renewable energy. To date, it has built two photovoltaic parks that generate 1.2MW of power and it is also constructing wind plants. Having partnered with international companies in energy, “Gaiaose would welcome more foreign investors in our energy, logistics and other development projects,” he notes.