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METLEN and METKA participate in the BOAK Project
Metlen Energy & Metals PLC has announced its participation in the BOAK Concession Project for the Chania-Heraklion Section of the Northern Road Axis of Crete. Metlen will acquire a 24% stake in the Concessionaire DIKTAION PARACHORISEIS S.A. and a 24% stake in DIKTAION OPERATION S.A., responsible for operation and maintenance. Furthermore, Metlen's construction arm, METKA ATE, will hold a 30% stake in the new Construction Joint Venture as the Design-Construction Main Subcontractor for this €2 billion project, which has a concession period of 35 years. Disclaimer*
About this update from Metlen Energy & Metals Plc
[{"type":"text","content":"\n\nPRESS RELEASE\nParticipation of METLEN and its Construction Arm METKA in the BOAK Concession Project (Chania-Heraklion Section)\nAthens, Greece / London, United Kingdom - February 5th, 2026 - METLEN announces that it has agreed to participate in the Concessionaire DIKTAION PARACHORISEIS Single-Member S.A. (until now wholly owned by GEK TERNA S.A.) for the \"Northern Road Axis of Crete (ΒΟΑΚ) - Chania - Heraklion Section\" project, as well as to participate, through its wholly owned subsidiary METKA ATE, in the Design-Construction Main Subcontractor structure.\nIn line with the procedure set out in the Concession Agreement:\n· METLEN will acquire a 24% stake in the share capital of the Concessionaire DIKTAION PARACHORISEIS S.A., thereby actively participating in the implementation of one of the country's largest infrastructure projects.\n· At the same time, the Company will acquire a 24% stake in DIKTAION OPERATION S.A., the entity responsible for the operation and maintenance of the project.\n· METKA ATE, as METLEN's construction arm, will participate with a 30% stake in the new Construction Joint Venture (together with TERNA and AKTOR ATE), which will replace the original Contractor as the Design-Construction Main Subcontractor.\nMETKA ATE brings extensive experience in large-scale engineering projects and specialized expertise in transport infrastructure, significantly enhancing the consortium's overall delivery capabilities.\nEvangelos Chrysafis, Executive Vice Chairman of METLEN & Chairman of METKA ATE, stated: \"METKA ATE's participation in the BOAK project is a strategically important initiative, as it concerns a major national-scale development that will substantially upgrade transport infrastructure and road safety across Crete. We are committed to contributing actively to the timely completion of the project, always in line with the high standards of quality and reliability that characterize all METKA projects.\"\nThe Northern Road Axis of Crete is one of the largest development projects currently underway in Greece, of major importance for road safety, intercity connectivity, and regional development. The total length of the Heraklion-Chania-Kissamos section is 187 km. The project budget amounts to €2 billion, while the concession perio...