Greece is not known as a locomotive or wagon manufacturing hub, but things might change with a cooperation with the US Government and a South Korean company. A new centre for production, maintenance and upgrade of rolling stock will be opened at the Elefsina shipyard, 20 kilometres west of Athens.
Let’s start from the end: the new company’s name will be ONEX Rolling Stock & Integrated Systems (ONEX RSIS). The initiative, as the name suggests, is led by ONEX Technologies Group (ONEX), a Greek-based company known for revitalising abandoned shipyards. The rail expertise will be provided by Sung Shin Rolling Stock Technology, a South Korean rolling stock manufacturer with the habit of expanding internationally.
American money
The United States will provide “financial support”, as the US Ambassador to Greece Kimberly Guilfoyle pointed out on X. “I am pleased to see Greece collaborate with Korean firm Sung Shin Rolling Stock Technology to continue the re-industrialisation of Greece and strengthen transportation infrastructure for Greece and our allies”, she added.
It is not clear how much money will be provided by the US, but ONEX said there will be investments for 20 million euros and the creation of 100 jobs. “The initiative dynamically restores the railway rolling stock sector in Greece after three decades, creating a new industrial pillar with an international orientation”, the company underlined.
New manufacturing hubs in Europe
The production of rolling stock in the Old Continent has traditionally been an Eastern European affair, with Poland, Slovakia and Czechia leading the way. However, there have been a few initiatives that suggest how other areas of Europe might want to (re)develop this industry.
Other than this new development in Greece, for example, MSC and Innofreight recently launched a wagons and bogie manufacturing hub in the Italian port of Trieste. Similarly to what is happening in Greece, the factory in Trieste was opened where there used to be a Finnish company building ship engines.