The Onex Shipyards in Syros are entering a new phase of development, through a five-year investment programme of more than €14 million, financed entirely with the company’s own funds. This programme marks the second period of regeneration of the shipyards, following their successful rescue and reopening, and aims to create a modern, sustainable and internationally competitive ship repair facility.

As announced, the initiative by UNEX is part of its strategy for the holistic reconstruction of infrastructure, focusing on the triptych of Safety – Environment – Competitiveness.

The investment plan comprises five central pillars:

1. Upgrading of the floating tanks with an investment of €5 million to increase the efficiency and safety of repairs.

2. Re-opening the Syncrolift after 20 years, with an investment of €2.5 million, which will allow additional vessels to be serviced and enhance the capacity of the facility.

3. Modernisation of the cranes (€2.5 million), to improve operational flexibility and speed of operations.

4. Energy upgrading of infrastructure (€2 million), to reduce the energy footprint and operating costs.

5. Environmental and technological modernisation (€2 million), with the introduction of robotic and hydro-electrical systems that improve working conditions and reduce the use of hazardous materials.

The Director General of ONEX Syros, Mr. Yiannis Vamvakousis, said the new project “marks the holistic reconstruction of the shipyards, aiming at sustainability, technological progress and securing jobs.” He said ONEX is investing with a firm focus on long-term growth, while strengthening the relationship of trust with the local community and employees.

Today, ONEX Shipyards in Syros employs 450 to 500 employees, while each year it completes more than 80 ship repair and refit projects. Their activity contributes substantially to the local and national economy, creating added value for the island and strengthening the Greek shipbuilding industry.

The ONEX management notes that this new investment is not an isolated initiative, but part of a wider strategic development plan that includes the creation of a multifunctional industrial hub in the Aegean. This hub will be able to serve not only merchant ships, but also energy and offshore projects, offering high-tech and high-quality services.

On completion of the project, the Syros shipyards aspire to become a model shipbuilding and energy infrastructure for the wider Eastern Mediterranean region. At the same time, the investment strengthens ONEX’s position as one of the most dynamic Greek industrial groups, consistently supporting production, innovation and employment in Greece.