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Prosecutors estimate damages to state of 53 mln€ from shipyard’s 2002 sale to German consortium

Special anti-corruption magistrates have calculated the monetary damages for the Greek state from the 2002 sale of the Skaramangas shipyards (Hellenic Shipyards S.A.) to the German consortium HDW/Ferrstaal at 53 million euros.

A relevant indictment was delivered by a special prosecutor’s office handing major corruption cases to that the circumstances surrounding the sale can be further probed, while the possibility of filing criminal charges against specific individuals will also be examined.  

According to judicial sources in Athens, the monetary losses may be higher, as the primary reason for the privatization was not to collect the proceeds from the sale, but the continued operation of the industrial concern and the shipyards’ modernization.