The European Investment Bank (EIB) has approved €90 million in financing to METLEN Energy & Metals, supporting strategic investments at the company’s Aluminium of Greece industrial complex in Central Greece. The project strengthens the European Union’s supply chain for bauxite and launches Europe’s first EIB-backed gallium production facility, reinforcing EU access to critical raw materials required for the green and digital transitions.

The investment is delivered across two industrial sites in Central Greece:

• METLEN bauxite mining operations in the Parnassus–Giona area
• Aluminium of Greece industrial complex in Agios Nikolaos, Viotia, where the new gallium production facility will be developed

The financing supports two key actions:

1. the modernisation of bauxite extraction, a critical input for alumina and aluminium production, and
2. the development of a dedicated gallium production unit, positioning Greece as a strategic hub for Europe’s critical materials autonomy.

Gallium is a high-value raw material heavily used in semiconductors, chips, advanced electronics, and photovoltaic technologies, making it directly linked to industrial targets such as electrification, renewables, digital infrastructure, and defence-grade manufacturing supply chains. This is why the project is aligned with the European Critical Raw Materials Act (CRMA), specifically the objective of reducing EU dependence on imported critical minerals and reinforcing industrial resilience within Europe.

EIB Vice-President Yannis Tsakiris described the investment as “a landmark for Europe’s industrial and strategic autonomy,” confirming that the EIB is backing the first gallium production project financed by the EIB, underlining Europe’s push to secure materials that are no longer optional for advanced manufacturing.

The financing is provided under the REPowerEU framework, a mechanism designed to accelerate Europe’s competitiveness and energy transition investments through high-impact industrial projects.

METLEN: Industrial scale and financial footprint

METLEN is one of the EU’s most strategically positioned metals groups, operating the only fully integrated bauxite–alumina–primary aluminium production plant in the European Union, supported by privately owned port facilities. The company operates across 5 continents, in more than 40 countries, with a workforce of 9,000+ employees worldwide.

In 2024, METLEN reported:

• €5.68 billion in consolidated revenue
• €1.08 billion EBITDA (+7% YoY)
• €615 million net profit
• €1.78 billion adjusted net debt
• Net Debt / EBITDA ratio: 1.7x

This operation represents the third financing provided by the EIB to METLEN, strengthening an already established long-term cooperation and confirming the strategic importance of METLEN’s industrial footprint for EU raw materials security.

With the launch of gallium production at industrial scale inside the EU, the METLEN project is positioned as a major European step toward strengthening strategic supply autonomy, starting from Central Greece, and reaching deep into Europe’s next-generation industrial value chains.