The European Investment Bank has approved €90 million in financing for
The European Investment Bank has approved €90 million in financing for METLEN Energy & Metals to support major investments at the company’s historic Aluminum of Greece complex in Central Greece. The project focuses on boosting Europe’s supply of bauxite and gallium, two raw materials considered vital to the continent’s green and digital transition.
The funding will modernize METLEN’s bauxite mining operations and finance the construction of a new gallium production facility at the company’s industrial sites in Central Greece. The initiative aims to reduce the European Union’s reliance on imported critical materials while strengthening the resilience of its industrial supply chains.
Gallium, a metal used in advanced clean-energy and digital technologies, will be produced at industrial scale within the European Union for the first time under an EIB-financed project, aligning the investment with Europe’s broader strategy to secure key raw materials for its economy and climate goals.
“This investment is a landmark for Europe’s industrial and strategic autonomy,” said Yannis Tsakiris, an EIB vice president. By supporting METLEN, he said, the bank is helping secure supplies of materials that are “indispensable for the green and digital transitions,” while also promoting industrial innovation, regional development and climate
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