While the current double tender for Crete’s VOAK motorway axis is essentially considered to be «dead», the Ministry of Infrastructure is preparing the new model to promote the implementation of this major road project.
In fact, there is already some information available on how the new deal will look like. PM, Mr. Kyriakos Mitsotakis has already mentioned that VOAK will be implemented using another concession. And this concession cannot be other than Attiki Odos.
After all, it is a concession that expires in 2024, so the most likely scenario is for Attiki Odos «to be combined» with VOAK Motorway, in order to secure funding for it, thus making it viable and most important, bankable.
The key point
The key point that will define the new tender that will be one and only, integrating the whole axis is the term «viable». Well-informed sources told ypodomes.com that the existing model, in addition to the complex triple process, involved a high participation of the Greek State, an exorbitant subsidy and availability payments that would raise the final cost of the project, higher than any other motorway ever built and operated in the country.
On that basis, the new model will seek a lower participation of the State and funding from another concession contract – most likely from Attiki Odos. In any case, tolls will not be avoided as they were also included in the previous concession tender, at a rate of 0,063 euro/km, as in the rest of the country’s motorways.
However, the participation of a large concession, could bring a reduction to the basic toll fare. What is also known is the intention for the axis construction in 2 phases: firstly the section Chania-Aghios Nikolaos and secondly the extensions to Kolymbari (to the west) and Sitia (to the east). The «unveiling» of the new tender and its architecture are expected by the Prime Minister, probably in early 2020.