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Metlen Energy & Metals PLC on Tuesday said it has taken the final investment decision for the construction of its fourth defence equipment plant in Volos, Greece. Athens-based Metlen produces aluminium from its plant in Viotia, Greece, and produces electricity from assets including gas-fired power plants and solar and wind farms. In the UK, it is part of a consortium building an electricity cable between Scotland and north-east England. Metlen said the site in Greece is part of the development of an integrated industrial complex for the production of defence equipment components, to create a defence hub in the region. The integrated defence equipment manufacturing unit will be aimed at producing high-tech defence products, it added. The new unit will cover a total area of over 10,000 square metres and will be equipped with five heavy machining tools, with production capacity for Leopard 2A8 battle tanks. The investment, which will total around €50 million, includes the construction of a new heavy-duty building; the procurement and installation of machining tools and equipment; and supporting infrastructure and specialised training programmes. The new plant is expected to start operating within the first half of 2027, creating between 200 and 250 new jobs in the Volos region. ‘We are responding to international market demand, creating hundreds of jobs, and bringing cutting-edge know-how to Greece through strategic partnerships that strengthen our country’s role in the European defence,’ said Chief Executive Officer Evangelos Mytilineos. ‘Our commitment at the [capital markets day] was for a five-plant defence hub. All units will form an interoperable European-scale defence hub, capable of simultaneously executing multiple programs for the production and support of heavy weapon systems.’ Shares in Metlen Energy & Metals were down 2.1% at €53.76 in London on Tuesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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