In the final stretch the consolidation and investment in the shipyards of Elefsina

The government’s plan for the consolidation and utilization of the Elefsina shipyards, presented by the Minister of Development and Investment Ad, enters the final stretch. Georgiadis during today’s meeting of the Council of Ministers.

According to relevant information, the bill has been drafted in cooperation and consultation with the Ministries of Finance and National Defense, authorizes the Minister of Development as represented by the main creditor of the Elefsina Shipyards, ie the Greek State, as a whole in the consolidation plan that will be submitted based on the bankruptcy law to the competent court.

This project is prepared in collaboration with ONEX, with the funding of the American DFC and provides that:

– For the reopening of the Elefsina Shipyards $ 100 million will be invested immediately. With these, the tanks will be repaired, environmental restoration will be done and any other work is needed for the Elefsina Shipyards to start their operation with all the jobs of the current employees secured.

– Based on the plan, which they have accepted themselves employees at a rate of 99.7%, will be paid by ONEX in the first stage all the compensation provided by law and the rest of the money they have received from the past will be paid in the future by whatever defense programs the Elefsina Shipyards manage to attract, not necessarily from the Greek Navy but any kind of defense programs from any customer.

The plan for the consolidation of the Elefsina Shipyards follows exactly the steps of the similar plan that had been prepared and has already been completed for the consolidation of the Neorio Syros Shipyards, where today it has already paid all the claims to the employees and the creditors, has increased the jobs from 150 to 600 and has given millions of taxes to the Greek State.

In exactly the same way and without any commitment of the Navy to give a program to the Elefsina Shipyards for their consolidation, the shipyards will proceed to their immediate and complete reopening with great benefit for the Greek economy, with many thousands of new jobs and prospects of large shipbuilding and repair production in Attica.

Thus, this plan – for the final elaboration of which the Ministry of Development had to work intensively for about 3 years – ensures the reopening of the last of the three Greek Shipyards, as Neorio is already operating, Skaramagkas passes to the Greek shipowner, George Prokopiou and Elefsina in the company ONEX.

It is noted, finally, that for the completion of the project there are two prerequisites: the approvals from the Directorate-General for Competition of the European Union and from the competent court under the bankruptcy law.