Ellaktor banking on higher tolls

For construction conglomerate Ellaktor, a rise in the tolls of the Attiki Odos ring road around Athens is crucial if it is to restructure a significant bank loan on more favorable terms.

Tolls for passenger cars were supposed to increase to 3 euros from 2.80 starting this July, with similar increases for other vehicle categories, such as trucks and motorbikes. A further hike was due at the beginning of 2020.

However, in what was widely seen as a late bid for votes, the previous SYRIZA government canceled the toll increases via a decision by former transport minister Christos Spirtzis.

Now the company expects what it calls a "goodwill gesture" from the new government - that is, to reverse Spirtzis' decision.
The Infrastructure Ministry appears favorable to that, but they and Ellaktor will still have to negotiate to find an acceptable compromise between what...