Holcim has broken ground at its state-of-the-art OLYMPUS project in Milaki, Greece, which is engineered to produce two million tonnes of near-zero cement per annum from 2029.
Planning to invest EUR 400 million into the OLYMPUS project, the aim is to put innovation to work in advancing Europe’s Clean Industrial Deal. The project has also been selected for a grant from the EU Innovation Fund.
In attendance at the plant’s groundbreaking was Kyriakos Mitsotakis, Prime Minister of Greece.
Who said: “This is a project of strategic importance, a project made possible thanks to the combination of private funding from the parent company, and we thank you for the trust you place in our country — as well as significant European funding. And surely, this investment did not receive the name of the legendary OLYMPUS by chance. We are talking about an investment of nearly EUR 400 million, of which EUR 125 million is European funds. Another important aspect is the creation of well-paid jobs; more than 1,000 new positions during the construction phase alone, and an additional 100 jobs during the operational phase. I would say this is the social footprint left by the advancement of industry in our country.”
What is Holcim on course to make?
Miljan Gutovic, CEO of Holcim Group: “Holcim is on course to make near-zero cement and concrete a reality at scale this decade, as the leading partner for sustainable construction. The OLYMPUS project in Greece is one of our seven large-scale, European Union-supported carbon capture, utilization, and storage projects that are setting the Clean Industrial Deal in motion. Together, these will enable Holcim to offer over 8 million tons of near-zero cement each year across Europe by 2030.”
OLYMPUS will deploy the combination of OxyCalciner and Cryocap™ FG technologies as a novel cost-efficient innovation for carbon capture. At the regional level, it is expected that OLYMPUS will create more than 1,000 direct and indirect jobs, contributing to the overall economic development of the surrounding area in Evia. Holcim is partnering with Air Liquide on the project, with EUR 125 million in support from the Innovation Fund, financed by revenues from the EU Emissions Trading System.
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