"We are here and we are building shipyards for Greek shipowners," stated Panos Xenokostas, President and CEO of the ONEX Shipyards & Technologies group, during the signing today of the financing agreement for the Elefsina Shipyards by the U.S. International Development Finance Corporation (DFC), in the amount of 125 million euros.

Mr. Xenokostas, who noted that about 80% of the ships at the Elefsina and Syros shipyards belong to Greek shipowners, referred to the contribution of both the American and the Greek government to achieve the agreement.

"Million-dollar investments are required because the infrastructure had been devalued," he pointed out, stating that the ONEX Shipyards & Technologies group has made investments of 80 million euros.

Total investments of 500 million euros

"Our plan - following the agreement with the DFC - involves total investments of 500 million euros," he noted, specifying that approximately 300 million euros pertain to infrastructure projects.

"Today's signing is a seal of friendship between the Greek and American people," Mr. Xenokostas concluded. The financing agreement was signed by Mr. Xenokostas and DFC CEO Scott Nathan.