Greece: Interest by three candidates in troubled Neorion shipyard on Syros

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Three strategic investors with a presumed interest in the troubled Neorion shipyard on the island of Syros, Greece were cited during a ministerial-level meeting in Athens, according to sources that spoke with Naftemporiki financial newspaper.

One of the candidates, according to the same sources, is Greek-American businessman Panos Xenokostas, who heads up the transport technology company ONEX. A second candidate, again based on the leaked information from the meeting, is Kostas Angelou, a Dubai-based shipowner and entrepreneur, while a third candidate was merely described as a ship-building group from South Korea.

Last week’s ministerial meeting was chaired by Minister of State Alekos Flambouraris, a close adviser to the Greek prime minister, a development that quite possibly demonstrates the critical situation faced by the industrial unit on the Cyclades island of Syros.

At last word, two main “scenarios” have emerged in terms of reopening the specific shipyard, one of the oldest in Greece, and covering its capital needs.

The first scenario points to a continued focus on the building of “mega yachts” or other specialty off-shore platforms, in a bid to try and exploit latest geopolitical and energy developments in the wider eastern Mediterranean.

Based on current reports, the ONEX side has tabled such as prospect.

Conversely, a proposal by Angelou’s Benelux company eyes a continued presence in the yachts sector but with the transformation of the yard into a marina.

Source: Naftemporiki / By A. Tsimplakis

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