MercoPress. South Atlantic News Agency

Tsakos closing Montevideo naval operations

Tsakos will remain in Uruguay doing business in renewable energies, agro-forestry, and real estate

The Greek company Tsakos announced it was closing its naval operations in Uruguay but will keep other investments in the South American country, it was reported in Montevideo after early versions that the firm was departing altogether.

 Tsakos' decision will result in 200 people losing their jobs, due to which both the labor union and the National Ports Administration were given due notice, it was explained. Since an accident at the Montevideo docks on Dec. 8, 2022, Tsakos tried to find a new dock to keep up operations in the Port of Montevideo. After months of negotiations, bidding, and cost appraisals, Tsakos was unable to access a suitable floating dock.

“After having exhausted all the options that were on the table and despite the great support received from the Uruguayan government and the best disposition of all our staff, Tsakos Industrias Navales has been forced to make the sad decision to close its operations in the country,” the company said in a statement.

However, according to Ámbito citing “company sources” Tsakos will remain in Uruguay doing business in renewable energies, agro-forestry, and real estate, in addition to the cultural activities of the María Tsakos Foundation.

Meanwhile, the Executive Committee of the National Union of Metal Workers and Related Branches (Untmra) urged the Uruguayan government “to contribute with the necessary solutions for the work of Uruguayans,” because Montevideo “needs a dam.”