The European Investment Bank (EIB) has approved €90 million in financing to METLEN Energy & Metals, supporting strategic investments at the company’s historic Aluminium of Greece industrial complex, in Central Greece aimed at strengthening the European Union’s supply of bauxite and gallium, two critical raw materials essential for Europe’s green and digital transitions.
The project includes the modernisation of bauxite mining operations, a key input for aluminium production, and the development of a new gallium production facility, marking a major step towards reinforcing Europe’s strategic autonomy in critical raw materials.
The investment is fully aligned with the objectives of the European Critical Raw Materials Act (CRMA) and contributes to reducing the EU’s reliance on imports, while improving the resilience and sustainability of European industrial value chains.
EIB Vice-President Yannis Tsakiris said: “This investment is a landmark for Europe’s industrial and strategic autonomy. By supporting METLEN, the EIB is backing Europe’s first EIB-financed gallium production project, strengthening the security of supply of critical raw materials that are indispensable for the green and digital transitions. It is a clear example of how European financing can support industrial innovation, regional development and climate action at the same time.”
The EIB financing is provided under the REPowerEU framework, supporting investments that enhance Europe’s industrial competitiveness and energy transition.
The investments will be implemented at two sites in Central Greece:
The project is expected to contribute to job creation and retention, support regional cohesion, and reduce the environmental footprint of mining and processing activities through the deployment of more sustainable and modern industrial practices.
METLEN is a major industrial company active in the energy and metals sectors, with a strong presence in Greece and internationally. Through its Metallurgy Sector, it is one of the European Union’s leading vertically integrated aluminium producers and, and the largest bauxite producer.
Evangelos Mytilineos, Executive Chairman of METLEN, stated: “METLEN demonstrates that it can play a leading role in shaping a resilient, green and competitive European industry. With the financing of the EIB, we confirm the strategic importance of our investment for Europe. We are implementing a landmark project that decisively strengthens Europe’s self-sufficiency in critical raw materials by bringing gallium into industrial production within the European Union for the first time, while reinforcing regional cohesion and Greece’s industrial base.”
This operation represents the third financing by the EIB to METLEN, further strengthening the long-standing and successful cooperation between the two institutions.
