Greece has introduced a new model for developing port infrastructure and expects an inflow of investments from the United States in the near future, according to an interview by Minister of Shipping and Island Policy Vassilis Kikilias with Realnews, reports Port News.
Greece’s new approach is illustrated by the transformation of the Elefsis Shipyards complex, managed with the support of US-based ONEX. Recent legislative changes expand permitted activities at the site, ranging from storage and port services to energy projects.
Earlier, the Elefsis project received a $125 million loan from the US International Development Finance Corporation to modernize the shipyard and develop it as an LNG route hub in the Eastern Mediterranean. The new regulation allows for an expansion of the complex by about 40 hectares, enabling new logistics and energy facilities.
Kikilias also linked port initiatives to energy-sector development, referencing the role of Greek LNG carriers and ongoing hydrocarbon exploration near Crete and in the Ionian Sea. He confirmed preparation of a social and regulatory package for the maritime sector: the government intends to almost double unemployment benefits for seafarers and broaden eligibility, with funding included in the multi-year budget plan. In parallel, a bill on port and vessel security has been submitted to parliament, strengthening state oversight and establishing rapid-response mechanisms for incidents. Kikilias did not specify the volume or timing of potential new US investments.
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Source: Port News
