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.
