ElvalHalcor’s revised 2026-2030 investment plan is advancing at a rapid pace.
According to the company’s presentation, cumulative capital expenditure (property, plant and equipment investments, including expansion projects, maintenance, production process optimization and cost reduction through automation) will exceed 850 million euros to support the company’s next phase of growth between 2026 and 2030.
Meanwhile, an extraordinary general meeting of shareholders approved a share capital increase of up to 300 million euros to support the plan’s purely productive investments, totaling 455 million euros. The capital increase will be carried out through a public offering in Greece and an international bookbuilding process abroad by way of a private placement, with existing shareholders’ pre-emptive rights waived.
Four investment pillars
The new production investments planned by ElvalHalcor are expected to significantly boost capacity across both of its business segments, aluminium and copper.
Chief Financial Officer Nikos Psyrakis said the company’s strategy is based on four pillars:
- Installation of a cold rolling mill at the Oinofyta plant;
- Construction of an aluminium scrap recycling facility in Oinofyta;
- Construction of a copper scrap recycling facility in Bulgaria; and
- Automation of production processes across the group’s manufacturing facilities.
Long-term target
The long-term objective of the investment programme is to increase ElvalHalcor’s production capacity to 982,000 tonnes of aluminium and copper from the current 761,000 tonnes, an increase of 29%.
In aluminium, long-term production capacity is targeted at around 680,000 tonnes from 478,000 tonnes currently, while copper capacity is expected to rise to around 300,000 tonnes from 283,000 tonnes.
This is expected to increase EBITDA to 425-475 million euros in the long term, from the current 236 million euros.
Particularly important is the company’s expansion in aluminium and copper recycling. Recycled aluminium volumes are expected to increase to 277,000 tonnes in the long term from 133,000 tonnes currently, while recycled copper volumes are projected to rise to 98,000 tonnes from 71,000 tonnes.
Total recycled metal volumes are expected to increase to 375,000 tonnes from 204,000 tonnes, representing an 84% expansion in scrap input.
National economic footprint
The company’s investment strategy has consistently been growth-oriented.
Since 2018, ElvalHalcor has invested approximately 895 million euros in Greece to expand production capacity, advance digital transformation and improve energy efficiency.
According to data from the Foundation for Economic and Industrial Research (IOBE), ElvalHalcor accounted for 10.8% of total investment in Greece’s precious and non-ferrous metals sector in 2025.
In 2025, the company generated production value of 2.3 billion euros and exports worth 2.5 billion euros, representing 8.0% of Greece’s industrial exports excluding petroleum products.
Aluminium exports reached 1.75 billion euros, accounting for 63.4% of Greece’s total aluminium exports, while copper exports amounted to 777 million euros, representing 96.1% of the country’s total copper exports.
ElvalHalcor exports high value-added products to more than 90 countries, with approximately 95% of its sales generated outside Greece.
The company’s contribution to employment is also significant. In 2025, its activities supported 20,920 direct and indirect jobs. Each job at ElvalHalcor supports a total of 6.2 jobs across the wider economy, highlighting its multiplier effect on Greece’s industrial base and economy.
Overall, the company’s contribution is equivalent to 0.56% of Greece’s gross domestic product.
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