Greece and Saudi Arabia strengthen ties to boost shipbuilding investments

Greece and Saudi Arabia are examining opportunities of cooperation for Saudi investment in Greece’s shipbuilding and defense industries.

The high-level visit to the Greek Elefsis Shipyards, in the presence of the minister of development Takis Theodorikakos, signals the prospect of a strategic cooperation with industrial and investment entities of Saudi Arabia in the critical sector of shipbuilding, ship repair and defense industry.

The Greek minister of development Takis Theodorikakos and Saudi Arabia minister of industry and mineral resources Bandar Ibrahim Alkhorayef met at the ministry in Athens and then paid a visit to the Onex Elefsis Shipyards on Monday.

The minister and the visiting delegation were welcomed at the Elefsis Shipyards by Onex Shipyards & Technologies President and CEO Panos Xenokostas.

During the visit, the Saudi delegation toured the facilities and was briefed on the prospects of the Shipyards’ development and the thousands of jobs being created.

Particular emphasis was placed on the contribution of the Shipyards to the revival of the Greek shipbuilding industry, which has been included in strategic investments through initiatives of the ministry of development.