OLYMPUS: From Milaki to a European benchmark for near-zero carbon footprint cement production

BUSINESS: 436 PRACTICES

HERACLES Group, a member of Holcim, is the leader in the construction materials sector and is the leading producer of cement, concrete and aggregates in the Greek market, with more than 110 years of continuous presence and growth. Since 2019, HERACLES Group has also dynamically entered the recycling sector, offering integrated waste management solutions. With an extensive footprint across the country and a network of over 70 facilities, the Group confirms its strategic position as a reliable partner for sustainable construction.
HERACLES Group is at the forefront of the green transformation of industry with a focus on sustainability, investing in innovative solutions that reduce the environmental footprint, strengthen the circular economy and contribute to the creation of climate-resilient and sustainable cities.
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The radical decarbonization of cement production at the Milaki plant through carbon capture and storage (CCS) technologies, aiming to produce near-zero carbon footprint construction materials and contribute to achieving Net Zero.

Construction sector, customers and partners, local community of Evia, industry, public and institutional bodies, academic/technical community, and the broader public.
2025–2030: Construction and commissioning. Long-term operations post-2030.
OLYMPUS represents HERACLES Group’s strategic decarbonization investment at the Milaki plant in Evia and serves as a flagship project within Holcim’s European decarbonization roadmap. Its groundbreaking ceremony took place in 2025. With a planned investment exceeding €400 million, it utilizes an innovative combination of OxyCalciner technologies to capture CO₂ from the production process. The project has been selected for funding by the EU Innovation Fund and has been classified as a Strategic Investment of National Importance. Targeting full operations by 2030, it aims to capture 1 million tonnes of CO₂ annually and produce 2 million tonnes of ECOPlanet ZERO/near-zero cement per year. The technological approach is designed to be scalable and replicable, enhancing its potential for application across other industrial facilities.

The 2025 milestone—the project's groundbreaking ceremony at Milaki in the presence of the Prime Minister, government and institutional representatives, media, local community leaders, and the academic community—marks the launch of a planned investment exceeding €400 million. The project targets full operational status by 2030, an annual capture of 1,000,000 tonnes of CO₂, and the annual production of 2,000,000 tonnes of near-zero / ECOPlanet ZERO cement. During construction, approximately 1,000 jobs will be created, followed by 100 permanent, highly specialized positions during the operational phase.
Furthermore, recognizing the rapidly evolving skill requirements for the industrial workforce, a Knowledge Hub is being established in collaboration with the academic community and institutions like the National Technical University of Athens to invest in advanced technical education, offer career opportunities for young scientists and engineers within the country, and help curb brain drain. Finally, this commitment extends directly to the local economy through a binding target requiring 30% of project procurement to be sourced from local businesses and SME suppliers, securing a broader regional value chain and driving distributed economic benefits across the local community.
Milaki Plant, Evia – featuring a European dimension and technology replication potential.
Holcim, EU Innovation Fund, and specialized technology partners of the project (indicatively Air Liquide and FLS). The final list of partners to be confirmed prior to submission.
Multidisciplinary teams from HERACLES Group/Holcim across production, engineering, environment, Health & Safety, permitting, sustainability, and communications actively participate in the development and execution.
Transformation of the Milaki plant into a cutting-edge unit for decarbonization, enhancement of competitiveness and expertise, creation of a new portfolio of near-zero products, support for Net Zero targets, and strengthening of the Group’s position as a strategic partner in sustainable construction.
