ONEX CEO calls on EU to modernize shipyard law

ONEX CEO calls on EU to modernize shipyard law

 The need to modernize European Union law so that the shipyards of EU member-states are effectively protected from the unfair competition of third countries and the need for an integrated support framework from the EU was pointed out by the president and chief executive officer of ONEX, Panos Xenokostas, to European Commissioner for the Internal Market Thierry Breton during the latter’s visit to the ONEX shipbuilding facilities in Elefsina, western Attica.

Deputy Development Minister Anna Mani and Secretary General of Industry Themis Eftychidou also attended the meeting. Xenokostas, together with high-ranking executives of the group, presented the potential that the ONEX shipyards, in Elefsina and Syros, are developing after the additions of state-of-the-art Panamax and Aframax tanks, as well as investment projects totaling more than 250 million euros to be implemented in the next five years, aiming at fully modernizing shipbuilding units, adopting green technologies, as well as developing RES infrastructure.

The European commissioner stated: “Our economic security above and below seas: two areas of strategic importance for EU competitiveness and employment. More investment and skills. Less bureaucracy and unfair competition from non-EU entities.”

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