Brussels, 12/07/2007 (Agence Europe) - The European Commission, on 11 July, authorised investment aid worth €99.29 million for Artensa (Artenius) of Spain. The aid takes the form of a soft loan and a tax advantage for setting up a new plant for the production of chemical products in the Sines industrial area of Portugal. The total costs of the new investment amount to approximately €360 million and will create 150 direct jobs and 200 indirect jobs. Authorisation was granted since the project complies with the adjusted regional aid ceiling, the beneficiary's market shares for the product concerned do not exceed 25% of the total market, and Artensa's own contribution to the investment is over 25% of the eligible costs. Competition Commissioner Neelie Kroes said that the project “will provide a significant contribution to regional development and job creation in the coastal Alentejo region, improve competition in the chemicals market and help to reduce Europe´s dependency on imports of these products”. (cd)