The US Congress approved a US International Development Finance Corp. (DFC) plan to allocate a 125-million-US dollar loan to Syros island-based ONEX Shipyards for the reopening of the Elefsina Shipyards, west of Piraeus.
According to ONEX, the figure is higher than the 102 million US dollars initially allocated for the borrowing scheme, while the DFC’s board of directors has already completed all internal procedures for approval of the loan from mid-May 2023.
According to an announcement by ONEX, a special law was ratified by the US Congress two years ago with bipartisan support in order to facilitate the loan plan, which marks the first and only, so far, DFC financing towards Greece.
ONEX is the lead investor in the scheme to rejuvenate and upgrade the Elefsina Shipyards, increasing the facility’s capacity to being able to work on some 200 vessels annually.
The development comes after this week’s signing of MoUs between Italian shipbuilding giant Fincantieri and Elefsina Shipyards, held at the latter’s premises.
In a press release on Sunday, Fincantieri said the MoUs were signed “with a selection of potential new suppliers, in the context of the high-profile process pursued by the Hellenic Minister of National Defence for the construction of four corvettes and the provision of Integrated Logistic Support (ILS) and In Service Support (ISS).”
Both shipbuilder Fincantieri and aerospace multinational signed the MoUs, whichwill “set the basis for defining possible business relationships for specific supplies.”
The MoUs were signed with the following Greece-based companies: Sunlight Group Energy Storage Systems SA, General Commercial and Industrial SA, Farad SA Heat Exchangers, Environmental Protection Engineering SA, G. Ligeros OE (Psyctotherm), SSA SA, Elfon, and Tecross SA.
Latest News
EBRD Raises Outlook for Greek GDP to 2.3% in 2024, 2.6% in 2025
Key downside risks remain, associated with possible delays in deploying Recovery and Resilience Facility (RRF) funds and weaknesses in key export markets and tourism source countries
Real Estate Insights: Athens’ Top Areas with the Highest Yields
In the first quarter of 2024, Korydallos in the Piraeus region and the burgeoning Attiki Square retain their top spots with impressive yields of 6.3%
ELSTAT: Inflation at 3.1% in April
Olive oil (63.7%), fruit (11.6%), fish (10.6%), and mineral water (12.5%) registered the highest increases annually
Greek Sunlight CEO Joins Industry Titans at Choose France Summit
At the heart of the "Choose France Summit" was the discussion surrounding the production of lead-acid and lithium-ion batteries, crucial for the green transition and storage of renewable energy.
Insights into Greece’s Real Estate Landscape; Consumer Expectations and Challenges
The study indicates that while 66% of Greeks find recent real estate price hikes concerning and liken them to a "bubble," over half (56%) still anticipate further increases.
Athens in Top 10 Best Value City Breaks
Every year, Post Office Travel Money compares the costs of short breaks in cities across Europe for UK holidaymakers
Athens Int’l Airport: Americans Lead Total Passenger Traffic in Q1
According to the data processed by AIA, the top 10 in foreign arrivals are dominated by Americans, followed by the British and Germans. Other top nationalities include Cypriots, Italians, French, Dutch, Israelis, Poles, and Turks.
Greek PM Mitsotakis and Turkish President Erdogan Meet in Ankara Today
No major developments are expected, as the key aim of the meetings between the two leaders is to maintain positive diplomatic relations, but Greece is always vigilant for any surprises from the Turkish leader.
New Athens Metro Line Hopes to Alleviate Heavy City Traffic
The massive project is expected to be completed in 2029
National Intelligence Agency DG to Accompany Greek PM to Ankara
Prime Minister Mitsotakis also gave an interview to Turkish newspaper Milliyet regarding his upcoming visit