DFC commits $125 mln to modernize Elefsina shipyard

A financial agreement for a $125 million loan to ONEX Elefsis Shipyard and Industries (ONEX) was signed by the US International Development Finance Corporation (DFC) Chief Executive Officer (CEO) Scott Nathan on Monday to rehabilitate and modernize the Elefsina shipyard near Athens.

"DFC is proud to advance this high-quality infrastructure project that will generate more reliable access to energy and foster greater economic growth and prosperity for our partners across the region," said DFC CEO Scott Nathan.

The shipyard is strategically located near several key gas trade routes. ONEX will use DFC financing to transform the shipyard into an energy supply hub supporting liquified natural gas (LNG) shipping lanes in the Mediterranean and Aegean seas and supporting Greece's renewable energy goals.

This investment advances President Biden's and the G7's commitment...