The transition of Syros and Elefsis shipyards to the new era is a personal bet for the President and CEO of the ONEX Group, Panos Xenokostas. Speaking to “Naftemporiki” about the Greek shipyards, he explained that he feels very proud of the quality of the work provided by the workers, considering that their experience and know-how is something special, which is why they are preferred by all shipowners.
The strongest shipping in the world, Greek shipping, acquires its own shipbuilding base in the Mediterranean and in fact at a geostrategic point for deep sea ships, Xenokostas said, while he called on Europe to proceed with institutional interventions in order to strengthen European shipyards in in view of the green transition of shipping.
Speaking about the reorganization plan concerning the Elefsis Shipyards, the President of ONEX Group stated that the process has already been completed, while the issuance of the relevant protocol for the transfer of the shipyard’s assets is now formally completed. “There is a bureaucracy in this matter and a number of issues that will have to be resolved, such as the removal of mortgages from creditors for previous debts.” He also pointed out that a similar procedure had been followed in Syros, as many asset transfers needed corrections.
“We invested taking a serious risk, without even owning the shipyard yet. However, there is a controlled situation and excellent cooperation with the Greek government. We gained significant time, the shipyards started working, there are significant benefits, and they are given to the workers and the company, in order to go to the next day, based on what is foreseen in the consolidation plan. Until two years ago, the workers were unpaid for a long time, with debts reaching 44 million euros, while at the same time two of the tanks were submerged and all the facilities were being dismantled. In about a year and a half since the interim operation began, workers have received about 21 million euros in old ownership debts, payments and compensation, while the restructuring plan will pay off 43 million euros of previous ownership’s debts. At the same time, the investments that have already been made are over 50 million euros so far, while in total they will exceed 250 million euros.”
