A new Strategic Investment of Flagship Importance in the field of critical raw materials was approved by the Interministerial Committee for Strategic Investments, convened by Minister of Development Takis Theodorikakos.

The investment concerns Metlen and has a total budget of €340 million. The project will enable Greece to produce gallium — a critical raw material — in quantities sufficient to cover 100% of the European Union’s needs, thereby contributing to Europe’s autonomy and security during a period of significant geopolitical developments, while also substantially strengthening Greece’s geostrategic role.

Gallium, which is produced during the processing of bauxite, has applications in critical technologies such as semiconductors, defense systems, artificial intelligence applications, and advanced photovoltaic systems. The development of domestic production capacity is expected to significantly reduce strategic dependence, strengthening the resilience of European industry against external disruptions and trade restrictions. The project is fully aligned with EU objectives regarding critical raw materials and strategic autonomy.

At the national level, the investment is expected to strengthen Greece’s industrial base and secure high value-added jobs. It is the first project approved for support under the CISAF 6.1 framework, for which Greece received approval from the European Union in February 2025.

In addition, the Ministry of Development, through the General Secretariat for Private Investments, submitted a financing request to the Modernisation Fund and secured coverage for a large portion of the project’s budget. Overall, the investment will receive €118 million in grants and tax incentives.

Also participating in the meeting of the Interministerial Committee for Strategic Investments were Vice President of the Government Kostis Hatzidakis, Minister of Environment and Energy Stavros Papastavrou, Alternate Minister of National Economy and Finance Nikos Papathanasis, Minister of Culture Lina Mendoni, and Deputy Foreign Minister Haris Theoharis.

The project is considered a landmark initiative that is expected to strengthen Europe’s competitiveness, security of supply, and geoeconomic position.