login
login
Image header Agence Europe
Europe Daily Bulletin No. 9472
Contents Publication in full By article 36 / 39
GENERAL NEWS / (eu) eu/state aid

Commission endorses €32 million aid to Kia Motors Slovakia to expand car manufacturing plant

Brussels, 19/07/2007 (Agence Europe) - On Thursday 19 June, the European Commission authorised an ad hoc aid of €32 million that the Slovak government plans to grant to Kia Motors Slovakia for the expansion of its car manufacturing plant situated in Žilina, Slovakia. The aid consists of a direct cash grant for an eligible investment cost of €216 million. As a general rule the Commission does not favour the award of ad hoc regional aid. However, in the present case the Commission is satisfied that the positive contribution of the overall investment project to regional development far outweighs the potential distortive effects of the aid. (cd)

Contents

A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS