A draft bill will be tabled in Greece’s Parliament by May 12 stipulating the conditions for the privatization of the Elefsina Shipyard, west of Piraeus proper, workers at the unit were told on Wednesday during a general assembly.
In a letter to the workforce by ONEX group CEO and president Panos Xenokostas, who heads the company in partnership with Italian multinational Fincantieri to assume the Elefsina industrial concern, assured that the draft bill will be submitted to Parliament’s floor by the specific date.
Specific during an industry-specific one-day seminar last February, in the presence of relevant Development Minister Adonis Georgiadis, Xenokostas said the salvage and restructuring plan for the debt-laden and loss-making shipyard includes a provision by which the new owners will assume past debts of roughly 220 million euros.
On the “plus” side, the ONEX- Fincantieri partnership has promised investments at the Elefsina unit of 200 million euros over 10 years, along with the creation of 1,000 job spots in the commercial vessel side, and another 1,000 jobs on the military building side.
ONEX currently manages a small shipyard on the Cyclades island of Syros
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