Holcim breaks ground on near-zero cement plant

Holcim has officially broken ground on its flagship OLYMPUS project at Milaki, Greece—an ambitious €400 million (£338 million) investment to deliver near-zero cement production by 2029. The project marks a major milestone in Europe’s Clean Industrial Deal and has received €125 million (£106 million) in support from the EU Innovation Fund.

Designed to produce 2 million tonnes of near-zero cement per year, the OLYMPUS facility will deploy a combination of OxyCalciner and Cryocap™ FG carbon capture technologies. The project forms part of Holcim’s broader decarbonisation strategy, which includes seven large-scale EU-supported carbon capture, utilisation and storage (CCUS) projects across Europe.

“This is a project of strategic importance,” said Kyriakos Mitsotakis, Prime Minister of Greece, at the groundbreaking ceremony. “It is made possible thanks to private funding and significant European support. The investment will create more than 1,000 jobs during construction and 100 permanent roles during operation.”

Miljan Gutovic, Holcim Group CEO, said: “Holcim is on course to make near-zero cement and concrete a reality at scale this decade. The OLYMPUS project in Greece is a cornerstone of our effort to offer over 8 million tonnes of near-zero cement each year across Europe by 2030.”

The OLYMPUS plant will be built in collaboration with industrial gas specialist Air Liquide. Holcim expects the project to contribute significantly to local economic development in the Evia region, alongside its environmental benefits.

With carbon-intensive industries under growing pressure to decarbonise, the OLYMPUS project underscores the role of integrated carbon capture in reducing emissions at the source—while maintaining high-quality output and supporting skilled employment.