Implementation details and cost analysis.

Crete’s the biggest island in Greece, and honestly, it’s a bit of a cultural powerhouse. You get mountains, valleys, coastline—the works. Agriculture and tourism both thrive here.

The island’s role in the region’s economy and transport scene is hard to ignore. Lately, there’s been a strong push to upgrade the infrastructure, aiming to keep up with growth and make getting around a bit easier.

Toll on the new BOAK

Tolls on the BOAK highway are set at 0.053 euros per kilometre (plus VAT) for passenger cars. The first toll station’s going up near the Gifos junction, but a handful of junctions will skip the tolls to make short trips less of a hassle.

The plan is that this revenue will help keep the road in good shape and fund improvements.

Additional information

For this major road project, toll charges for passenger cars (excluding VAT) sit at 0.053 euros per kilometre. Pretty much in line with what you’d pay on other national motorways.

Bigger vehicles like trucks and buses? They’re charged differently, using specific coefficients laid out in the operating agreement. Toll stations will roll out gradually, starting with temporary setups at key points. Later, a fully electronic national toll system will take over to handle payments and keep traffic moving.

Some junctions are off the hook for tolls, mainly to help with local city traffic. The state covers those costs, so folks doing short, city-related trips don’t get dinged for every drive.

The project covers the main stretch between Crete’s big cities and comes with a hefty budget. The government’s marked it as a priority and wants work to kick off in the next year or so.

Frequent drivers and occasional travelers won’t pay the same way. Registered users get billed for the exact distance, but if you’re not registered, you’ll pay a fixed fee for each toll zone you cross.

Here’s a quick summary:

Electronic tolling is meant to smooth out traffic and cut down on stops at barriers. It should make the whole trip a bit faster and, fingers crossed, safer.

Government backing ensures that certain city routes stay toll-free, so locals aren’t unfairly hit. The idea’s to keep the road financially sustainable and in good condition for the long haul.

Temporary Toll Stations

While the highway’s under construction, temporary toll stations will pop up so drivers can get used to how it all works. These won’t start operating until certain sections are finished. This whole period’s called the Partial Operation Phase.

Temporary stations will go in at three main spots, each tied to the completion of a big bypass:

• Georgioupoli to Atsipopoulo: Needs the Rethymno Bypass (7 km) done first.
• Fodele to Linoperamata: Waits for the Heraklion Bypass, which is a long one—35.2 km.
• Souda to Vamos/Vryses: Depends on the Chania Bypass (8 km).

These are just for the transition period. Once the whole motorway and its electronic system are up and running, these physical booths will be taken down.

Toll rates at the temporary stations will match what’s planned for the finished highway. The whole approach is basically a way to ease people into the new system while construction’s still ongoing.

In short, temporary toll stations:

• Only show up after certain bypasses are done
• Work during construction for partial toll collection
• Disappear once the electronic system’s ready
• Help drivers get used to the idea of paying tolls

It’s a balancing act—collecting some revenue during construction but keeping the focus on the bigger, modern system coming soon. Drivers get a chance to adjust before everything goes fully electronic.

This phased approach lets drivers get familiar with tolls as the infrastructure grows. It’s not perfect, but it’s a step toward a smoother, tech-driven future for Crete’s roads.

Electronic Toll Collection System

The electronic toll system’s going to charge you automatically, based on how far you drive. If you’re registered, you’ll get billed for the exact distance you cover. That feels fairer, doesn’t it?

Here’s the tech behind it:

• DSRC transponders for registered folks—these gadgets talk to the toll stations and log your car’s movements.
• Video tolling for everyone else—cameras snap your licence plate and charge you accordingly.

Entry and exit points will be rigged with toll recorders, tracking vehicles as they hop on and off the road. That’s how they’ll know exactly how much to charge you.

Some perks of this system:

You’ll be able to manage your account online, check trips, review bills, and top up. It’s meant to be simple—no more waiting in long lines at old-school booths.

The system will start with some temporary stations, then move to full electronic mode. It should keep traffic flowing and make toll collection less of a headache.

Exempted Junctions from Toll Charges

Certain highway junctions—especially those used for local city traffic—will be toll-free once everything’s in place. This applies only for trips between specific junctions, as long as your car hasn’t passed another toll point in the last hour.

To get the exemption, two systems need to be fully live:

• A Distance-Based Electronic Toll System—calculates charges by the kilometre, using electronic tags or licence plate cams.
• The National Electronic Toll Charging System—handles payments and exemptions across the whole network.

Once both are running, vehicles in categories 1 and 2 won’t pay for trips between the approved urban junctions.

Main Junctions Where Toll Charges Will Not Apply

The toll-free routes are centered around the bypasses of Crete’s main cities:

Conditions and Monitoring

All exempt journeys between these junctions are electronically recorded, mainly to keep tabs on usage. This data is needed so the government can compensate the concessionaire for toll revenue lost from these free trips—what they like to call “shadow tolls.”

This setup is meant to make sure drivers taking short, local trips aren’t hit with unnecessary tolls. It helps people get around every day without extra cost, which honestly feels fair.

What Happens If Tolls Are Not Paid

If you don’t pay the toll fees, strict penalties kick in pretty fast. The fine is set at 20 times the unpaid toll, which is a hefty deterrent if you ask me.

The toll operator can go to court and request a payment order to get their money back. So, if you keep dodging payment, formal legal action could be on the horizon.

There’s a bit of breathing room, though. You’ve got 15 days from the date of the violation to settle the original toll fee without extra charges.

After that two-week window, the fine lands and legal trouble might follow.

Introduction to the Stock Market

The stock market is basically a place where companies can raise money by selling shares to the public. Investors buy these shares, which means they own a piece of the company, and then trade them on exchanges like the Athens Stock Exchange or even bigger international ones.

When a company goes public, it might issue new shares, offer up existing ones, or both. This move gives the company funds to grow or just keep things running, and it lets investors potentially share in its financial success.

Key Points about Stock Market Listings:

• Public Offering: Companies can issue new shares to raise fresh capital.
• Secondary Offering: Existing shareholders may sell their shares to other investors.
• Exchanges: Listings can be made on various stock exchanges, domestic or international.
• Regulation: All activities are governed by financial laws to ensure transparency and protect investors.

Being listed on a stock exchange usually boosts a company’s visibility and credibility. But it also means more scrutiny and reporting, which is supposed to improve corporate governance—though I guess that depends on who you ask.

Investors get access to market prices that reflect what people think the company’s worth. They can buy or sell shares to fit their own goals, which makes portfolios a lot more flexible.

Shadow Toll Payments

To keep the road project financially afloat, the government chips in a portion of the operator’s income through shadow tolls. These are indirect payments, made every six months, and the amount depends on traffic and what the project is expected to earn.

This way, the motorway keeps running without drivers having to cough up big fees at toll booths. The system tries to balance costs so users aren’t overloaded.

Key features of shadow tolls:

• Payments made semi-annually
• Based on traffic levels
• Linked to the project’s performance and revenue
• Reduces the need for direct fees from drivers

This model pops up a lot in road projects to share the financial risk between government and operator. It lets the motorway keep running and maintained, without relying only on tolls collected at the gate.

With this approach, the motorway stays functional and doesn’t put too much economic pressure on travelers. It can even help traffic flow a bit smoother and avoids the headache of constant toll stops—who really wants more of those, anyway?

Flexibility in Toll Pricing

The toll prices on the Northern Road Axis of Crete can change over time. The private operator has the right to adjust the fees once a year, but only within certain agreed limits.

Any updates usually kick in from January 1st, and both the government and drivers are supposed to get at least a month’s notice. Honestly, it’s not the most exciting news, but it’s important if you drive there a lot.

Besides the standard inflation-based tweaks each year, the operator’s allowed to mix things up with more targeted pricing. For example, they might offer:

• Discounts for local residents, frequent travellers, and pro drivers
• Special reductions on certain days or during specific periods
• Different charges at each toll station, as long as they don’t go over the legal cap

So, the system’s got some wiggle room to adapt to how people use the road and when. It’s not just about squeezing extra cash—sometimes it’s about fairness, or at least that’s the idea.

Source: NeaKriti

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