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Elefsis and Neorion Shipyards turning new page in the shipbuilding industry


Elefsis and Neorion shipyards in Syros are turning a new page in the shipbuilding industry.

The overall impact on the Greek economy from the reopening of the Elefsis Shipyards is expected to reach 1% of GDP. There is a plan for investments of 300 million euros for infrastructure and development, while another 200 million euros will return to insurance funds and workers.

The president and CEO of the ONEX group, owner of the two shipyards, Panos Xenokostas, said that more than 300 ships will be repaired annually in the two shipyards of the group, since the goal for Elefsis is to reach 200 ships, while Neorion in Syros has exceeded 100 ships on an annual basis.

The US development organization DFC and the ONEX group have recently signed an agreement for the Elefsis Shipyards, which constitute a critical infrastructure of the highest strategic importance for Greece and global shipping, regarding the provision of 125 million dollars to the Elefsis Shipyards, through a bond loan.

According to the group’s plans, the Elefsis shipyard will play a leading role in the energy security of the region and in “green” shipping.

Moreover, there is cooperation with the large Italian shipbuilding group Fincantieri in the field of defense equipment. Last June, an extension of the partnership with the Italian shipbuilding group was announced, including a new ship production line under the group’s defense shipbuilding company, ONEX Elefsis Naval & Maritime.

It envisages “the construction of corvettes up to the most advanced surface ships, and especially frigates, offering the Navy modern, interoperable high-tech solutions.” Two more floating tanks of the shipyards are expected to be ready next March.