With today’s decision Multi-member Court of First Instance of Athens issued the decision validating the Consolidation Plan of Shipyards of Elefsina.

This was made known by an announcement from the ONEX group, now the official owner of the Shipyards, while it is recalled that the group had submitted the relevant plan for validation to the competent Committee of the Parliament last November.

In fact, it is noted that in favor of the consolidation-transfer agreement “from the beginning the workers of the shipyards themselves, banking institutions, the Greek public, while it had special support from the Greek government, with the decisive contribution of the then Minister of Development, Adonis Georgiadis” .

The decision, as reported by the group, officially marks the turning of the page for the long-suffering Greek shipyards and the dynamic restart of the domestic shipbuilding industry, which has already begun with over 20 million euros invested by the ONEXbefore the court decision is even issued.

With the final validation of the reorganization decision, a bond loan of 125 million dollars, originating from the American Investment Bank, DFC, will be given to ONEX.

It is considered particularly important and indicative of the size of the project that it recommends that, for the first time, the DFC proceeds with financing within the Greek and European borders.

In fact, as it is added, these funds come to be added to an already large series of investments and modernization of infrastructure, in which the president and managing director of ONEX Panos Xenokostas had proceeded starting in 2019 from the Syros Shipyards.

As he stated: “Today, our vision for the rebirth of Greek shipyards as an industry is taking shape. The biggest winners are and will be the workers and craftsmen who, supporting the industry for years at personal cost, fought against interest guilds and played a decisive role in its current recovery. My personal goal is to hand over to the next generation, healthy and competitive shipyards, for the first time free from attitudes that risked the extinction of an industry with hundreds of years of tradition. After all, Greece, a world pioneer and dominant in the shipping industry, deserves a shipbuilding and shipbuilding industry that meets the requirements of its fleet. It is a fact that the consolidation plan changes the geopolitical dynamics in the entire eastern Mediterranean and enables our country to lead the commercial shipping and energy transition”.

It is estimated that over the next three years, more than 300 million euros will be invested in the project of the regeneration of the Greek shipyards, turning our country into a shipbuilding hub for the wider area of ​​the SE Mediterranean and redefining its productive dynamics in defense, energy and shipping.