OPINION

November 5, 1958

STATE OIL REFINERY: King Pavlos inaugurated the first state oil refinery at Aspropyrgos yesterday, an industrial plant that is expected to make a major contribution to the country’s economic growth. The refinery is estimated to be able to process 1.3 million tons of crude oil each year, with the potential for a total 1.5 million tons, and will meet all the country’s requirements for petroleum products. The opening was attended by Prime Minister Constantine Karamanlis, the ministers for coordination, industry, trade, justice, labor and shipping, among other Greek officials, as well as by the US ambassador. After the blessing by the archbishop of Attica, the minister for industry said the refinery was the country’s largest industrial plant and would put $11 million into the state coffers every year, an amount that would fund new projects for economic growth and strengthen the country’s foreign exchange balance. Apart from the 500 workers and scientists employed at the plant, new prospects were being created for other industries based on the refinery. Greece had been the only European country that did not have an oil refinery, he added.