Cement group Vicat gets EU grant for France's largest carbon capture project

French cement manufacturer Vicat Group has received a grant from the European Innovation Fund program for its 1.2-million-ton carbon capture project at the company's Montalieu-Vercieu cement plant, the largest in France, the company said in a statement Feb. 12.

The grant enables the company to create a unique value chain and will serve as an initial anchor point in the Rhône Valley for the complete capture, transportation and liquefaction of CO2 for storage, according to the statement.

"This new grant marks a key milestone in the development of the VAIA project. Studies are ongoing and the final investment decision is scheduled for 2027," the company said.

The GPID grant is part of the French government's major investment plan to accelerate the country's ecological and industrial transition, which aims to support innovative and structural projects in industries that contribute to the decarbonization of industry and the modernization of infrastructure and competitiveness in strategic sectors.

Platts, part of S&P Global Energy, last assessed CEMDEX Turkey at $53.50/mt FOB on Feb. 5.