05/06/2025
TITAN Greece’s IFESTOS project has been designated as a Strategic Investment by Enterprise Greece
A significant milestone in preparing the project’s investments towards the production of zero-carbon cement
TITAN Greece’s innovative carbon capture project, IFESTOS, has been recognized as a Strategic Investment by Enterprise Greece, per the announcement of the Ministry of Development. The decision was made during the recent meeting of the Interministerial Committee for Strategic Investments, chaired by the Minister of Development, Takis Theodorikakos. Being included in Category 1, the project receives the incentive of expedited licensing and permitting.
As part of TITAN Group's strategic plan, IFESTOS outlines the development of a large-scale carbon capture unit at TITAN’s plant in Kamari, Boeotia, near Athens, Greece. The approved investment dossier also includes the establishment of a Single Unit Business Park in Kamari.
The recognition of IFESTOS as a Strategic Investment by Enterprise Greece marks a key milestone for the project. Following the €234 million grant secured from the European Union's Innovation Fund in July 2023 and the launch of technical studies with leading international partners, this development brings the project closer to its final investment decision (FID) in 2026, as the broader ecosystem for carbon capture, transport, and storage, along with the associated regulatory framework, are advancing. The Front-End Engineering & Design (FEED) studies are already underway, along with the related environmental studies.
Mr. Yanni Paniaras, Executive Director Europe, TITAN Group, stated: "IFESTOS is a pioneering and complex project, fully aligned with our vision for a sustainable future. Being designated as a Strategic Investment underscores the importance of the project for Greece. We are moving swiftly ahead with preparations for IFESTOS’ implementation.”
IFESTOS is expected to deliver major environmental benefits and boost the competitiveness of the Greek industry:
- Capture of 1.9 million tons of CO₂ annually, which corresponds to almost all of Kamari plant’s carbon dioxide emissions.
- Annual production of at least 3 million tons of zero carbon innovative cement, profitably supporting the transition to a sustainable, growing construction sector in Greece and Europe.
- Attraction of further investments in the country across the entire value chain.
- Creation of over 750 direct and indirect jobs during both the construction and operation of the unit.