BUSINESS

Safran ponders new aircraft engine unit in Greece

ILIAS BELLOS

TAGS: Business

French multinational Safran Group is reportedly examining the installation in Greece of a unit to repair, maintain and rebuild airplane and helicopter engines.

Government sources say discussion are at an advanced stage, though additional efforts are needed to ensure a successful outcome. Should this happen, it would mean a significant investment in a labor-intensive field of particular added value for Greece that could generate remarkable demand for employment, they add.

The interest of the French group in Greece was rekindled during the recent visits of top Greek and French officials to Paris and Athens respectively, taking part in the accompanying business missions. However it is also looking other countries in the eastern Mediterranean for this investment, weighing the needs of its clients, mainly carriers that use its engines as well as other electrical and mechanical equipment it produces.

Safran is also eyeing these services for the defense sector, where it is already very active, including working with France's Naval Group, which will build the Belharra frigates Athens is pondering acquiring.

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