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DFC signs deal to invest $125 mln in Elefsina Shipyards, Greece

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Piraeus, Greece (PortSEurope) November 7, 2023 – The U.S. International Development Finance Corporation (DFC) has signed a financing agreement for a $125 million loan to ONEX Elefsis Shipyards and Industries (ONEX) to modernize the Elefsina shipyards near Athens, Greece.

The investment will help create a strategically critical maritime and energy supply hub for the region by expanding the shipyard’s capacity to service liquified natural gas (LNG) ships, promoting European energy security and diversification, creating new local jobs, and bolstering the U.S.-Greece partnership through a transparent, high-quality investment.

With the finance, ONEX will expand the shipyard’s capacity to repair and upgrade ships, particularly ships that service the nearby Revithoussa LNG terminal. The shipyard is strategically located near several key gas trade routes.

The shipyard’s capacity to service up to 200 ships per year. New facilities will include a 30MW solar farm to provide energy to the shipyard and to the local grid. The upgrades will include repurposing part of the shipbuilding infrastructure for the fabrication and assembly of wind turbines.

Management comment

“DFC’s investment in the Elefsina shipyard will develop a maritime and energy supply hub that will create good local jobs here in Greece and help the country and region become less reliant on Russian energy,” said DFC CEO Scott Nathan. “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.”


The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.    

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