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Image header Agence Europe
Europe Daily Bulletin No. 8603
Contents Publication in full By article 28 / 41
GENERAL NEWS / (eu) eu/state aid

Inquiry into aid to Spanish company Solmed

Brussels, 10/12/2003 (Agence Europe) - The Commission has opened an in-depth inquiry into investment support given to Spanish steel producer Solmed Galvanizados, a subsidiary of Arcelor, and which was not notified. The support consisted of a subsidy of 4.2 million EUR towards a total investment cost of 52.8 million, agreed as part of regional investment incentives. According to the Multisectoral Framework on regional aid for large investment projects, aid to the steel sector is forbidden, which led the Commission to open a procedure with the aim of establishing the facts and considering the points of view submitted to it by interested parties.

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