- Expatica countries
Index Last Var.(%) BEL 20 3083.51 0.32 DAX 9605.08 0.17 IBEX 30 10058.5 -1.04 CAC 40 4387.61 -0.20 FTSE 100 6806.86 -0.05 AEX 397.5 -0.20 DJIA 16272.65 0.46 Nasdaq 4318.933 0.63 FTSE MIB 20298.33 -0.11 TSX Composite 14214.35 0.18 ASX 5415.4 -0.10 Hang seng 22836.96 0.04 Straits Times 3110.78 0.45 ISEQ 20 836.3 0.23 EUR / USD 1.37976 0.67 EUR / GBP 0.82571 0.59 USD / GBP 0.598544 -0.10 Gold 1329.6 -0.13 Oil 108.9 -0.76 Silver 21.28 0.08
16/09/2010Greece seals shipyard resale deal to Arabs: minister
Greece has finalised a deal to transfer a majority stake in the country's main shipyard from German to Arab control, the Greek defence ministry said on Thursday.
"The Greek government, ThyssenKrupp Marine Systems and Abu Dhabi Mar today jointly announce that they have reached an agreement by finalising the contract text," the ministry said in a statement.
"A new page opens for the Greek Navy, Skaramanga Shipyards and the entire Greek shipbuilding and ship repair sector," it said.
The deal in which ThyssenKrupp will yield 75 percent of its stake in Skaramanga, also known as Hellenic Shipyards, to Abu Dhabi Mar had been delayed by wrangling over the delivery of a German-built submarine to the Greek Navy.
Athens in 2006 had refused to accept delivery of the Papanikolis submarine ordered in 2000 and built by ThyssenKrupp after Greek Navy inspectors declared it defective during test runs off the port of Kiel.
But Defence Minister Evangelos Venizelos in March said that improvements had since been carried out, enabling the government to authorise its approval.
"Papanikolis is a particulary important property item of the Greek Navy," he said. "It will be used in the most advantageous way for the Greek Navy and the state budget."
The government had earlier indicated plans to re-sell the submarine.
Venizelos on Thursday added that the Navy would also replace a planned overhaul of two older 209-class submarines with an order for two new 214-class submarines.
The project will cost 175 million euros (227 million dollars), he said.
The Greek government, struggling with a debt crisis and facing a huge effort to restructure the economy, has admitted it can ill-afford new arms purchases.
But Venizelos stressed that the deadlock over the stalled submarine order "had placed in danger the country's largest shipbuilding industry, thousands of jobs, the entire Greek Navy submarine programme and over two billion euros already paid by the Greek state without tangible result."
The shipyard agreement will be presented to the Greek parliament for approval and should be in force by September 30, Venizelos said.
© 2010 AFP
- Most Popular Articles
Meet the most eligible internationals in Germany at Expatica Date!
Expatica is looking for readers who want to contribute regularly to our websites.
- Discussion Forums
Dutch or German Healthcare ? English Comedy in Berlin Monday's Currency Update Weekly currench crunch Expatica End of Week Currency Roundup
- Inside Expatica
What you need to know about German schools and daycare.
Want to move to Germany but haven’t figured out the details? Check out Expatica’s overview of the German permit system.
In part one of our two part series, we cover the driving culture in Berlin, where to park and buy gas and, most importantly, the laws.
Our comprehensive guide includes information on how to find work, recruitment agencies, employment contracts and labour law.