Brussels, 12/03/2014 (Agence Europe) - On 11 March, the European Commission found that public funding worth £17.8 million granted for the construction of the Liverpool cruise terminal is in line with EU state aid rules. The project was conducted by Liverpool City Council and received funding from the UK (£9.2 million) and from EU Structural Funds (£8.6 million).
The UK carried out an in-depth financial analysis showing that the terminal operator's income from the use of the infrastructure would be insufficient to cover the investment costs over a period of 20 years. Therefore, the project would not be carried out without public funding. The Commission found that the public funding was limited to the minimum necessary to make the investment possible and that the positive effects of the project will outweigh any potential distortions of competition brought about by the aid. The Commission opened an investigation in 2011 following a complaint lodged by a competitor. (EL)