Greece unveils € 1.35 billion trilateral project Trident for Elefsina shipyards
- aina246
- 2 days ago
- 2 min read
Greece, the United States and South Korea have unveiled plans for project Trident, a proposed € 1.35 billion investment programme that aims to transform the Elefsina shipyards into one of the Eastern Mediterranean's leading shipbuilding, logistics and defence industrial hubs. The initiative was announced through a memorandum of understanding between Greek shipyard operator ONEX and South Korean shipbuilder Hanwha Ocean with the support of the United States. The investment programme remains at the planning stage and is expected to be implemented over the next five to seven years, subject to further agreements and financing.
Project Trident would significantly expand Greece's shipbuilding and maritime industrial capacity while strengthening the country's role within European and NATO defence supply chains. The initiative reflects a broader effort by Greece to rebuild its manufacturing base, modernise strategic infrastructure and position itself as a regional centre capable of supporting naval construction, maintenance, logistics and advanced industrial production.
The investment programme is structured into three phases. The first phase, valued at € 150 million, would focus on expanding ship repair and maintenance capabilities through the construction of new dry docks, technical facilities and infrastructure designed to service commercial and naval vessels. The second phase, worth € 200 million, would modernise Elefsina's port infrastructure while developing new logistics and supply chain facilities, allowing the shipyard to handle greater volumes of industrial and maritime activity. The third phase, representing approximately € 1 billion, would introduce advanced manufacturing equipment, automated production lines and specialised industrial infrastructure capable of supporting complex naval programmes, including submarine-related manufacturing and maintenance.
Project projections estimate the creation of up to 10,000 direct and indirect jobs across shipbuilding, engineering, logistics, manufacturing, transport and defence industries. The investment could contribute up to 0.8% of Greece's annual GDP, while generating significant secondary economic activity through suppliers, technology providers, construction companies and supporting industries. Another key objective is to achieve up to 70% domestic industrial value added, ensuring that a large share of contracts, production and technical expertise remains within Greece and benefits local companies and workers.
The development is intended to support not only commercial shipping but also the operational requirements of the Hellenic Navy and allied naval forces operating throughout the region, reinforcing Greece's role within the wider Euro-Atlantic security architecture.
Project Trident remains a planned investment programme. The memorandum of understanding establishes the framework for future cooperation, while the proposed investments will require further planning, financing and phased implementation before construction and industrial expansion can be fully realised.
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