BAKU, Azerbaijan, January 16. The European Investment Bank (EIB) has approved €90 million in financing to METLEN Energy & Metals to support strategic investments at its Aluminium of Greece industrial complex in Central Greece, Trend reports via the Bank.
The funding will modernize bauxite mining operations — a key input for aluminium production — and establish a new gallium production facility, reinforcing Europe’s supply of these critical raw materials essential for the EU’s green and digital transitions.
The investment aligns with the European Critical Raw Materials Act (CRMA) and the EIB’s REPowerEU framework, which supports projects that enhance industrial competitiveness, energy security, and sustainability.
The project will be implemented across two sites: METLEN’s bauxite operations in the Parnassus–Giona area and the alumina and aluminium complex in Agios Nikolaos, Viotia, where the gallium facility will be developed.
The initiative is expected to support job creation, regional cohesion, and the deployment of modern, environmentally sustainable industrial practices. METLEN is one of the EU’s leading vertically integrated aluminium producers and the largest bauxite producer.
The EIB, owned by EU member states, provides long-term financing to projects that support EU policy objectives, including climate action, digitalization, security, cohesion, and sustainable growth. In 2024, the EIB Group signed nearly €89 billion in new financing for more than 900 projects, mobilizing over €110 billion in growth capital for startups, scale-ups, and European innovators.
Almost 60% of the EIB Group’s annual financing targets climate action, in line with the Paris Climate Agreement and its Climate Bank Roadmap, while around half of its EU financing is directed to cohesion regions with below-average per capita income.