ONEX Shipyards in Syros are entering a new development phase through a five-year investment programme exceeding US$16.2 million, financed entirely with the company’s own funds, according to Athenian-Macedonian Agency.
This programme marks the second period of the shipyards’ regeneration, following their successful rescue and reopening, and aims to create a modern, sustainable, and internationally competitive shipbuilding and repair unit.
According to an announcement, ONEX’s initiative is part of its strategy for comprehensive infrastructure reconstruction, with a triple focus on safety, the environment, and competitiveness.
The investment plan is based on five central pillars:
- Investments of US$5.8 million to upgrade the floating tanks and increase repair efficiency and safety.
- Reopening of Syncrolift after 20 years, with an investment of US$2.9 million, which will enable additional ship servicing and enhance unit capacity.
- Modernization of cranes (US$2.9 million) to improve operational flexibility and work speed.
- Energy upgrade of infrastructure (US$2.3 million) to reduce the energy footprint and operating costs.
- Environmental and technological modernization (US$2 million), with the introduction of robotic and hydraulic systems, which improve working conditions and reduce hazardous material use.
The General Manager of ONEX Syros, Giannis Vamvakousis, stated that the new programme signals the comprehensive reconstruction of the shipyards, aiming at sustainability, technological progress, and securing jobs. He emphasized that ONEX is investing with a firm orientation toward long-term development while strengthening the relationship of trust with the local community and employees.
Currently, ONEX Shipyards in Syros employs 450 to 500 workers, while more than 80 ship repair and conversion projects are completed annually.
As emphasized by the company, their activity contributes substantially to the local and national economy, creating added value for the island and strengthening the Greek shipbuilding industry.
ONEX management pointed out that this new investment is not an isolated initiative, but part of a broader strategic development plan that includes creating a multifunctional industrial hub in the Aegean.
This hub will be able to serve not only commercial ships but also energy and offshore projects, offering high-tech and high-standard services.
