The AKTOR Group will participate with 36% in the Construction and Management Consortium of the Northern Road Axis of Crete (NRAC), covering the section from Kissamos in Chania to Heraklion. Meanwhile, the Metlen Group acquires 24% of the Consortium. The GEK TERNA Group, which previously held 100%, will now participate with 40%. The construction cost for the Chania-Heraklion-Kissamos section of NRAC, spanning 187 km, has a budget of 2 billion euros and covers the design, construction, financing, operation and maintenance of the largest highway currently under construction in Europe. This is one of the largest development projects being implemented in Greece, of major importance for road safety, city connectivity and regional development.
AKTOR Group announcement on NRAC
The “AKTOR SOCIETE ANONYME OF PARTICIPATIONS, TECHNICAL AND ENERGY PROJECTS” (hereinafter the “Company” or “AKTOR Group”) informs the investment community, in accordance with Regulation (EU) 596/2014 of the European Parliament and Council and the Athens Stock Exchange Regulation on the following:
On February 4, 2026, the 100% subsidiaries of the Company, “AKTOR PARTICIPATIONS IN CONCESSION AND PPP PROJECTS SINGLE MEMBER SOCIETE ANONYME” and “AKTOR CONCESSIONS SINGLE MEMBER SOCIETE ANONYME”, signed a binding agreement (“the Agreement”) to acquire from “GEK TERNA Societe Anonyme of Participations, Real Estate, Construction” shares totaling 36% of the share capital of “DIKTAION CONCESSIONS S.A.”, which has undertaken as Concessionaire the implementation of the “Design – Construction – Financing – Operation – Maintenance and Exploitation of the Northern Road Axis of Crete (N.R.A.C.) Chania – Heraklion Section” project (the “Project”).
Furthermore, within the framework of the Agreement, the above subsidiaries of the Company will acquire a total 36% of the share capital of “DIKTAION OPERATION S.A.”, a company that has undertaken the operation and maintenance of the Project, and the Company’s subsidiary “AKTOR TECHNICAL COMPANY SOCIETE ANONYME” signed an agreement for its 30% participation in the Basic Subcontractor for Design-Construction of the Project.
The above Agreement is subject to obtaining necessary approvals and consents for such transactions. The total length of the Project amounts to 187 km. The Project budget amounts to approximately 2 billion euros, while the concession period is 35 years, the first five of which correspond to the design and construction period. The Northern Road Axis of Crete (N.R.A.C.) has a total length of approximately 300 km, also including the sections “Chersonissos–Neapolis” and “Neapolis-Agios Nikolaos” under construction, making it the largest highway currently under construction in Europe.
Metlen announcement
METLEN announces it has agreed to participate in the scheme of Concessionaire DIKTAION CONCESSIONS Single Member S.A. (with GEK TERNA S.A. as sole shareholder until today) for the “Northern Road Axis of Crete – Chania–Heraklion Section” project, as well as the participation of its 100% subsidiary METKA ATE in the Basic Design–Construction Subcontractor scheme.
Within the framework of the relevant procedure provided by the Concession Contract:
METLEN proceeds to acquire a 24% stake in the share capital of Concessionaire DIKTAION CONCESSIONS S.A., now actively participating in implementing one of the country’s largest infrastructure projects. At the same time, the Company acquires a 24% stake in DIKTAION OPERATION S.A., the company that has undertaken the project’s operation and maintenance.
METKA ATE, as METLEN’s construction arm, will participate with a 30% stake in the new Construction Consortium (together with TERNA and AKTOR ATE companies) which will replace the Constructor as Basic Design–Construction Subcontractor of the Project. METKA ATE has extensive experience in major technical projects and specialized expertise in transportation projects, strongly contributing to the scheme’s overall operational capacity.
Evangelos Chrysafis, Executive Vice President of METLEN, President of METKA ATE and Head of the Construction & Concessions Division, stated: “METKA ATE’s participation in the NRAC project is a strategically important initiative, as it is a project of national scope that will substantially upgrade transportation and safety in Crete. We are committed to actively contributing to the project’s timely completion, always based on the high standards of quality and reliability that characterize METKA’s projects overall.”
The Northern Road Axis of Crete is one of the largest development projects being implemented in Greece, of major importance for road safety, city connectivity and regional development. The total length of the Heraklion–Chania–Kissamos section amounts to 187 km. The project budget amounts to 2 billion euros, while the concession period is 35 years, the first five of which correspond to the design and construction period. The construction portion exceeds €700 million, while the 24% share of both the concession and the operation and maintenance of the project is also worth many millions.
