A new Strategic Investment Strategy of key importance in the critical raw materials sector has been approved by the Inter-Ministerial Committee for Strategic Investments, convened by the Minister of Development Takis Theodoricakos.
As noted in announcement , this is aa flagship project that will undoubtedly enhance Europe’s competitiveness, security of supply and geo-economic position.
More specifically, it concerns the Metlen investment with a total budget of 340 million. EUR 340 million, which enables Greece to produce gallio, a critical raw material, in sufficient quantities to cover 100% of the needs of the European Union, thus contributing to autonomy and security in a critical period of important geopolitical developments and strengthening to a very significant extent the role of Greece at a geostrategic level.
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. The development of indigenous production capacity contributes substantially to reducing strategic dependence, enhancing the resilience of European industry to external shocks and trade constraints. The project is fully aligned with the EU’s objectives on critical raw materials and strategic autonomy.
At national level, it strengthens the Greek industrial base and secures high value-added jobs. It is the first to be approved for support under the CISAF 6 scheme.1,for which the country received approval from the European Union,in February 2025.
In addition, the Ministry of Development through the General Secretariat for Private Investment submitted a financing request to the Modernization Fund and secured the coverage of a large part of the budget of the project. In total, the investment will receive financing in grants and tax exemptions of €118 million.
The meeting of the Departmental Committee for Strategic Investments was also attended by Deputy Prime Minister Kostis Hatzidakis, Minister of Environment and Energy Stavros Papastavrou, Deputy Minister of Economy and Finance Nikos Papathanasis, Minister of Culture Lina Mendoni and Deputy Minister of Foreign Affairs Charis Theocharis.
