Its investment Metlen total budget of EUR 340 million, enabling Greece to produce gallium, a critical raw material, in sufficient quantities that can meet 100% of the needs of the European Union, was approved by the Interministerial Committee on Strategic Investment, which was convened by the Minister for Development Takis Theodorikos.
The gallium, which is produced during the bauxite processing process, has applications in critical technologies such as semiconductors, defence systems, artificial intelligence applications and modern photovoltaic systems.
As the Ministry of Development notes in its communication, domestic capacity development contributes substantially to the reduction of dependency strategy, strengthening the resilience of the European industry towards external disturbances and trade restrictions. At the same time, the project is fully aligned with EU objectives. for critical raw materials and strategic autonomy.
As stressed by the Ministry of Development, at national level, the project strengthens the Greek industrial base and ensures high value added jobs. It is the first approved for aid under CISAF 6.1, for which the country was approved by the European Union in February 2025.
Application for funding at the Modernisation Fund
In addition, the Ministry of Development through the General Secretariat of Private Investment submitted a request for funding to the Modernisation Fund and secured a large part of the project budget. Overall, the investment will receive funding for grants and tax exemptions of EUR 118 million.
The meeting of the Interministerial Committee on Strategic Investment also attended by Deputy Prime Minister Kostis Hatzidakis, Environment and Energy Minister Stavros Papastavrou, Deputy Minister for National Economy and Finance Nikos Papathanasis, Culture Minister Lina Mendoni and Deputy Minister for Foreign Affairs Harry Theocharis.
«This is an iconic project which undoubtedly strengthens Europe's competitiveness, security of supply and geo-economic position.» The Ministry of Development concludes its announcement.
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