METLEN and METKA Join Crete’s Northern Road Axis (VOAK) Project

METLEN has agreed to participate in the concessionaire consortium Diktaion Parachoriseis S.A. for the ‘Northern Road Axis of Crete – Chania–Heraklion Section’ project. Its 100% subsidiary METKA will join the Design–Construction Main Contractor consortium. Under the Concession Agreement, METLEN acquires a 24% stake in Diktaion Parachoriseis — the concessionaire — and also secures a 24% share in Diktaion Leitourgia S.A., responsible for operation and maintenance. METKA, as METLEN’s construction arm, will hold a 30% stake in the new Construction Joint Venture alongside Terna and Aktor, replacing the original contractor. With extensive experience in large-scale infrastructure and specialized expertise in transport projects, METKA significantly strengthens the consortium’s operational capacity. Evangelos Chrysafis, Executive Vice Chairman of METLEN, Chairman of METKA, and Head of Construction & Concessions, stated: ‘METKA’s involvement in VOAK is a strategic initiative — a nationally significant project set to substantially improve transportation and road safety across Crete. We are committed to supporting its timely completion, upholding METKA’s high standards of quality and reliability.’ The VOAK is one of Greece’s largest infrastructure developments, vital for road safety, intercity connectivity, and regional growth. The Heraklion–Chania–Kissamos section spans 187 km, with a total budget of €2 billion and a 35-year concession period — including five years for design and construction. Construction accounts for over €700 million, while METLEN’s combined 24% stakes in both concession and operations represent a multi-million-euro investment.