Development Minister Takis Theodorikakos, along with National Defense Minister Nikos Dendias, attended the inauguration ceremony today, Tuesday, for Metlen’s M Technologies industrial facility at the new defense hub in Volos.
“A Greek industrial investment—high-tech, of critical military and defense significance, employing highly skilled workers, and with a clear export orientation—that transcends the narrow confines of a major investment. “It concerns our economy as a whole, our productive capacity, our industry, our defense, and our national self-confidence,” said Mr. Theodorikakos, adding:
“Volos is elevating its role as a hub for heavy industry, defense, and innovation. And this is particularly significant for a region with a long industrial history, one that has experienced the difficulties of deindustrialization but is now turning a new page. Through investments, jobs, and robust production. With people who are not forced to leave their homes, but have the opportunity to stay here, work here, and build a future here.”
The Minister of Development emphasized that this specific investment, totaling 45 million euros, has been included in the Ministry of Development’s strategic investments as a flagship project of exceptional importance. It was approved in October 2024, and in less than two years, a fully integrated production facility is being inaugurated, thanks in part to the systematic work of the General Secretariat for Private Investment at the Ministry of Development.
“It combines high technology, an export-oriented focus, and the strengthening of the domestic production base. It involves the creation of a modern production facility for advanced metal structures for critical defense applications, with an emphasis on technological superiority and international competitiveness. “Upon completion of the facility, production capacity will double, and the entire output will be directed toward exports, strengthening the country’s trade balance and industrial outward orientation,” he noted.
As he noted, “this investment is not merely an industrial facility, but proof that Greece can produce, export, and play a leading role in high-tech sectors,” and emphasized that 250 new direct and indirect jobs are being created, making a significant contribution to the local economy and helping to retain scientific and technical talent in the region.
The Minister of Development placed particular emphasis on the new government initiative concerning defense, noting that on July 15, the new defense development program—amounting to 150 million euros in accelerated depreciation—will be announced. This is one of the most significant measures in development policy, aimed at strengthening the domestic defense industry, attracting high-tech investments, and creating added value within the country.
As he emphasized, “the government’s strategic choice is to transition from the role of a mere purchaser of defense systems to that of a co-producer, by strengthening domestic know-how and participation in international value chains.”
He further emphasized that the defense industry is no longer a peripheral sector of the economy but a central pillar of national power, as it directly links security to production, technology, and economic resilience. In an international environment of heightened geopolitical tensions, the existence of a strong manufacturing base is a prerequisite for strategic autonomy.
In this context, Takis Theodorikakos emphasized that “Under our new defense doctrine, we require at least 25% co-production for every major defense procurement,” with the aim of strengthening domestic production and transferring know-how to Greek industry. “Greece cannot be limited to the role of a consumer.”
The Minister of Development also addressed the overall investment climate in our country, noting that Greece is in a phase of productive reconstruction. As he noted, approximately 1,000 investment projects totaling 2.5 billion euros are currently underway, creating tens of thousands of new jobs. “More than 90% of the funding is directed outside Attica, a fact that strengthens regional development and the cohesion of our country,” he emphasized.
As he stated, “Greece has entered a new era of investment credibility and productive dynamism. From 11% of GDP allocated to investments in 2019, we have reached 17% today, and the goal is to further converge with the European average.” At the same time, he emphasized that the speed of implementation of strategic investments is a critical indicator of the state’s credibility in the eyes of investors.
In the context of flagship strategic investments, the Minister of Development also referred to gallium production, emphasizing that this is a project of high geo-economic significance, which strengthens Greece’s position in critical technological value chains and makes a decisive contribution to Europe’s strategic autonomy in critical materials and cutting-edge technologies.
Mr. Theodorikakos praised the contribution of the management, engineers, and employees of Evangelos Mytilineos’s Metlen, emphasizing that “today marks the transition from design to production and from investment to actual economic growth.” He also emphasized that the coming period through 2030 represents a critical turning point for the Greek economy, with challenges including productivity, demographic trends, and the reduction of social inequalities, noting that a national strategy, consistency, and unity are required for the country’s sustainable development in an unstable international environment.
Concluding his speech, he stated that “over the next four years, increasing productivity, addressing demographic challenges, and reducing inequalities constitute a threefold challenge that is a matter of national importance—a national stake. And it requires a national strategy for Greece to successfully move toward 2030 in a highly competitive and unstable world. Let this message unite all Greeks—the productive forces as well as the political system. Because there are too few of us Greeks to be divided.”
Visit to the EVETAM facilities at the Volos Industrial Park
Following the inauguration of Metlen’s new industrial plant, Mr. Theodorikakos and Mr. Dendias visited the EVETAM facilities at the Volos Industrial Park where they were welcomed by the company’s CEO, Giannis Koulizakos, in the presence of New Democracy MP for Magnesia Christos Boukoros.
Mr. Theodorikakos highlighted EVETAM’s unique role as a public company with a competitive presence in the certification market, noting that it faces significant challenges and new opportunities for growth.
In a statement, the Minister of Development said: “EBETAM is regaining its strength, with an unwavering commitment to transparency, legality, sound management, and respect for public funds. It has a promising future ahead, as it is doing exceptional work in the field of certification. Together with the Minister of National Defense, we had a very substantive discussion about new market sectors that may open up for the company, and I am confident that it will capitalize on them. The Ministry of Development will continue to steadfastly support EVETAM in every possible and entirely lawful way.”