Brussels, 20/12/2006 (Agence Europe) - On 20 December, the European Commission authorised regional investment aid totalling €2.03 million for the German shipyard, Rolandwerft. After an in-depth investigation initiated in February 2006 concerning a first set of investments worth €1.56 million, the Commission concluded that the investment is limited to modernisation of the yard, which will improve its productivity. At the same time, the Commission's fears that the investment would lead to a disproportionate capacity increase were dispelled by Germany's demonstration that, while steel processing capacities will increase slightly, the output of the yard as a whole will remain unchanged following implementation of the investment project.
In parallel, the Commission approved additional investment aid in favour of Rolandwerft. Notified during August, this regional investment aid amounts to €0.47 million and will enable the yard to lift bigger and heavier ships at the lowest possible cost. The cost amounts to €3.97 million, of which Germany plans to finance €0.47 million, representing an aid intensity of 11.84%. The Commission also considered this investment qualified as investment for modernisation of the yard, which will improve the productivity of existing installations but does not lead to a disproportionate capacity increase. (ol)