Elefsis Shipyards

ANEK ferry company and Elefsis Shipyards are in discussions for the execution of a 1-billion-euro shipbuilding budget program for the modernization of the Attica Group fleet.

An updated US proposal to sell four Littoral Combat Ships ships to Greece has reopened the debate over the Hellenic Navy's procurement program.

The US Congress has approved financing through borrowing for ONEX Shipyards to carry out the consolidation plan for Elefsis Shipyards.

The US International Development Finance Corporation (DFC), America's development bank, will provide the amount of $125 million.

This financing will be the first so far from DFC for Greece.

The US International Development Finance Corporation's (DFC) participation in Elefsis Shipyards is currently at $125 million, Development and Investment Minister Adonis Georgiadis said this week.

The relaunching of works and the productive output of the Elefsis Shipyards, in Attica, "means rather a lot, because after so many years we can again secure our work, our salary and the money we thought was lost," accident prevention worker Dimitris Charitos told the Athens-Macedonian News Agency on Saturday.

The Greek shipbuilding industry appears ready to write a new chapter in its history after the completion of the consolidation of its three major shipbuilding units (Elefsis, Skaramangas and Syros) and the increase in activity at other units, such as those that are based in Salamina, Perama and Halkida.

ΟΝΕΧ will distribute 1.8 million euros as financial support to workers at Elefsis Shipyards ahead of the Easter holidays, covering 30% of the previous ownership's debt to workers, Chairman and CEO Panos Xenocostas said in a letter.

The payment will be made on Friday and will vary from €600 to €7,000, depending on the previous debt.

The ONEX Shipyards & Technologies group has announced that the full lifting of dry dock No 1 at Elefsis Shipyards has been successfully completed.

The lifting operation was an extremely complex undertaking due to the poor condition the dry dock was in after decades of abandonment, combined with its many years at the bottom of the Elefsis Shipyards facilities (since 2018).

The funding to come from US state investment bank DFC may have been approved by the US Congress just a few weeks ago, in end-2019, but Greece has already come onto the investment radar of the American giant, which commands funds of $60 billion.

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.