Elefsina Shipyards – The rescue efforts are entering the final stretch

Efforts to rescue the Elefsina shipyards from the Fincantieri-Onex alliance are entering the final stretch, as today or tomorrow, according to information, the consolidation plan is being promoted by Ernst & Young for signing at the Ministry of National Defense and the banking institutions.

The plan envisages the commitment of around 210-230 million euros for past debts, investor plan of 150-200 million euros over a period of 10 years, creation of more than 2000 jobs, indirect GDP growth of 0.5%. The commercial part of the shipyard is already secured by the surplus customer force of Onex that can no longer be served in the shipyards of Syros, while the defense segment is planned to restart through the corvette program of the Hellenic Navy.

In this direction, yesterday, according to the same information, another decisive step was taken with a competitive proposal tabled by Fincantieri for the construction of three of the four Corvettes and the upgrade of MEKO class frigates at Onex Elefsis shipyards.

Another important step, according to Onex agents, is the passing by American lawmakers, in the week of December 13-17, of a law that paves the way for the DFC to finance / invest in the Onex Elefsina Shipyards in Greece that “promote the Security of the region”.

Finally, last Friday 17 and Monday 20 December, the employees of Elefsina, following a decision of the Board of Directors and the General Assembly of the Union, became the first creditors to contract with the plan of consolidation of the shipyards by Onex.

Onex aims to submit the plan even before the end of the year or in the first week of January at the latest.