The system of automatic toll collection without tickets and without making payments at gates!
Motorway funding Motorway A1
The investment project comprising the A1 Motorway section managed by GTC was financed by international financial institutions and GTC’s Shareholders.
The international financial institutions, namely the European Investment Bank, Nordic Investment Bank, and Swedish Export Credit Corporation, provided GTC with loans which covered 95% of the project’s demand for financing; the GTC Shareholders contributed the remaining 5%.
The loans extended to GTC to finance the project added up to the aggregate of approximately EUR 1.5 billion (both Phases). The above amount was designated to cover such costs as: direct construction and design costs, purchase of the motorway equipment, interest and fees on the loans, the Independent Engineer’s fees, cost of insurance, and rental.
In the motorway operation period, GTC receives availability payments from the National Road Fund. The proceeds thereof are spent on providing for: the debt service costs (interest on the balance outstanding and principal instalments), taxes, operating costs which include e.g. consideration for the Motorway operator (for operation and maintenance of the tolling system, and keeping the road up to the specified standard), insurance costs, services rendered by the Independent Engineer, tolling expansion, and costs related to Motorway rehabilitation.
The Motorway rehabilitation costs comprise the costs of all overhaul and repair works on the wearing course and engineering structures (e.g. flyovers, bridges, buildings, service areas, etc.), and all other facilities belonging to the motorway (e.g. barriers, road signs, meteorological stations, tolling system equipment, etc).
GTC has two other sources of income: variable remuneration paid from the National Road Fund to cover the variable costs of operating the Motorway (linked to the traffic volume), and a return on the GTC Shareholders’ investment in the project.
The account settlement system incorporates payment deductions for reduced motorway availability to the drivers (e.g. traffic lane closures), or inadequate Motorway maintenance standards.
GTC transfers the toll collected on the Motorway to the National Road Fund. The toll rates are fixed by the Minister relevant for Transport.