24/07/2015 (Agence Europe) - Green light for aid to Czech company Nexen Tire. On Thursday 23 July, the European Commission approved regional investment aid of almost €117 million (CZK 3,207 million) to Nexen Tire Corporation Czech s.r.o. (Nexen) for the construction of a tyre production plant in Zatec, Czech Republic, creating at least 1,000 jobs. The Commission found that the aid granted (a direct grant of €39.7 million, an employment grant of €10.1 million and about €67 million arising from tax relief and from the authorities selling the site for the plant at a reduced price) was compatible with EU state aid rules, and that it promotes regional development without unduly distorting competition in the internal market. (MB)