The Producer Of Super Vita Boats Asks For Bankruptcy Protection

HS Roussen. Photo from Wikipedia by K. Krallis

The Greek shipyard Elefsis has asked for conciliation procedure as it is facing the dooming liquidity problems .

The owner of the shipyard Neorion Holdings, announced that they were asking protection from debtors under the Article 99 of Law 3588/2007 as they were restructuring the dept of the shipyard.

The shipyard one of the biggest private shipyards in Greece was producing Super Vıta class corvettes fro the Greek Navy with BAE naval Systems.

At the beginning of this month, BAE Systems Surface Ships announced that it has pulled itself from the contract with the Elefsis. BAE Systems cited the lack of payments for the project by Greek government as the reason for its departure.

The construction of Super Vıta corvettes is or was the biggest warship construction project in Greece besides the construction of 6 Type 214 AIP submarines. The submarine procurement program also faced enormous problems which have been discussed lengthy over the last months.

The Super Vita / Roussen prorect started in 2000 when BAE Systems signed a contract with Elefsis Shipyard, for the production of 3 Super Vita corvettes, in Greece. BAE Systems was to supply the design, and combat system integration service. Furthermore the constructions facilities at Elefsis were to be modernized. The contract also incorporated technology transfer.

The first boats covered in the initial contract are already delivered to Greek navy. In 2003 options for 2 additional ships and in 2008 again for further two ships were executed by Greek Navy. However only the first ship of the options is delivered to the Greek Navy. The remaining three are in different stages of production.

Now with BAE systems withdrawn from the contact and the Elefisis is asking for protection from bankruptcy, it the fate of the remaining three ships is very dubious.

The 62 meters long vessels have a displacement of 671 tonnes and carry 8 MM40 Excocet anti ship missiles, 21 RAM anti air missiles. The gun armament consists of one 76mm main gun and 2 30mm secondary guns. The boats are quite well armed for their dimensions.