Milaki, Greece – June 2025 – Global sustainable construction leader Holcim has officially broken ground on Project OLYMPUS, a €400 million flagship initiative at its Milaki plant in Greece. Engineered to produce 2 million tons of near-zero cement per year by 2029, this transformative project underscores Holcim’s commitment to decarbonizing construction at scale.
The groundbreaking ceremony was attended by Greek Prime Minister Kyriakos Mitsotakis, who hailed the investment as a milestone for both industry and the environment.
“This is a strategic project made possible by private and EU investment. Beyond the technology, it means well-paid jobs and economic revitalization. Over 1,000 jobs will be created during construction and 100 more in operation,” said Mitsotakis.
Accelerating Europe’s Clean Industrial Deal
Project OLYMPUS is one of seven major carbon capture, utilization and storage (CCUS) projects supported by the European Union’s Innovation Fund, reinforcing Holcim’s leading role in Europe’s Clean Industrial Deal.
Miljan Gutovic, Holcim CEO, stated:
“OLYMPUS is proof of our ability to scale near-zero cement by the end of this decade. With this and other EU-backed initiatives, we’ll deliver over 8 million tons of near-zero cement across Europe by 2030.”
The project is being developed in partnership with Air Liquide, and benefits from €125 million in EU funding sourced from the EU Emissions Trading System (ETS).
Technology Driving Sustainability
The OLYMPUS facility will deploy an innovative combination of OxyCalciner and Cryocap™ FG carbon capture technologies, designed for cost-efficiency and climate impact. Once operational, this system will drastically cut CO₂ emissions associated with cement production while improving energy performance and product quality.
Regional Economic Impact
The project is expected to:
- Generate 1,000+ direct and indirect jobs during the construction phase
- Add 100 permanent roles once operational
- Stimulate economic growth in the Evia region
- Support Greece’s national industrial transformation goals
About Holcim
Holcim is a global leader in innovative and sustainable building solutions. With CHF 26.4 billion in net sales (2024) and 65,000 employees worldwide, the company is reshaping construction with breakthrough materials like ECOPact, ECOPlanet, and circular solutions such as ECOCycle®.
To learn more, visit www.holcim.com or follow Holcim on LinkedIn. Sign up for the Building Progress newsletter for updates on sustainable innovation.
