Neorion

Greek shipbuilding is in a phase of ambitious expansion thanks to significant investments, but requires a regulatory framework from Athens and Brussels that will shield it from unfair competition from Asian shipyards, local shipbuilding company chiefs told a conference last week.

Nine individuals have been apprehended, three of whom are hospitalized, in connection with Tuesday's fatal collapse of a two-story building along the Akti Moutsopoulou seafront road in Pasalimani, Piraeus.

A 31-year-old off-duty special guard of the Hellenic Police (ELAS), who was participating in the construction work, lost his life in the incident.

One man died and three more were injured when the room of an old building in a district of the port city of Piraeus collapsed on Tuesday morning, during renovation works.

Initial information indicated that the victim was a 31-year-old police officer who was trapped in a loading truck crushed by construction materials.

Greece's revitalized shipbuilding industry will be prominently represented during Posidonia 2024, signaling a strong recovery following decades of decline and disrepair.

Slowly but surely, ship numbers and the volume of ship repair work in Greece are increasing, creating expectations that the country can once again become the ship repair hub of the Eastern Mediterranean.

The development of this activity by Piraeus Port Authority (OLP) as well as ONEX Neorion Shipyards (Syros), and at the Elefsis and Skaramangas shipyards, is evident.

The American-Hellenic Chamber of Commerce on Monday welcomed the signing of the provisional cooperation agreement between Onex Neorion Shipyards and Israel Shipyards Ltd, along with the joint ministerial decision on the offsetting of pharmaceutical companies' clawbacks/rebates with the investments they implement in production, research and clinical studies.

The government is trying hard to revive two companies which are important for the local economy and the country's armed forces, Hellenic Vehicle Industry and Elefsis Shipyards.

The Tavoularis Group, which controls Neorion SA, has started exclusive negotiations with Panos Xenokostas' Onex Group over the sale of Elefsis Shipyards, which Neorion owns.

A court on Syros has finally ratified the streamlining plan for the Neorion Shipyard in Ermoupoli, the capital of the Cyclades. The verdict means the historic company is now officially under the control of Onex Syros Shipyards, owned by Greek American Panos Xenokostas.

Ambassador Geoffrey Pyatt stressed once more the importance of Greek-American strategic partnership and U.S. interest in investing in Greece.

U.S. interest in investing in Greece is growing fast and major American companies are ready to move in strategic sectors of Greek economy.