5th Feb 2026 12:31
(Alliance News) - Metlen Energy & Metals PLC on Thursday said it will participate in a major road project on the Greek island of Crete, taking a stake in the concession holder.
Metlen is an Athens and London-based aluminium producer and electricity generator. It also invests in network infrastructure, battery storage, and other green technologies.
Metlen will take a 24% stake in Diktaion Parachoriseis SA, previously wholly owned by GEK Terna SA, an Athens-based and listed infrastructure investor. Diktaion Parachoriseis is the concession holder for the Chania-to-Heraklion section of the 'Northern Road Axis of Crete'.
Metlen said the Northern Road Axis project is "one of the largest development projects currently underway in Greece".
The Chania-to-Heraklion section is 187 kilometres. The total project budget is EUR2 billion, with the construction share being more than EUR700 million. The concession period is 35 years, with the first five years representing the design and construction of the road.
Metlen also will take a 24% stake in Diktaion Operation SA, the entity responsible for the operation and maintenance of the project, while Metlen's construction arm Metka ATE will be a 30% participant in the construction joint venture, together with Terna and Aktor ATE.
Metlen shares were down 0.4% to EUR45.30 in London midday Thursday.
By Tom Waite, Alliance News editor
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