Romania’s Finance Ministry has selected six companies out of 36 applicants to grant them state aid for new investment projects that would positively impact the local economy.

All six companies are part of foreign groups. Pirelli Tyres Romania, Arctic, Clariant Products Ro, Robert Bosch, Safe Med International and Alu Menziken are the companies selected on the Finance Ministry’s short list for getting state aid. They have come up with investment projects worth almost EUR 511 million for which they requested state aid totaling EUR 139 million.

The Finance Ministry will announce its final decision in maximum 45 days. Meanwhile it will analyze the six financing requests.

Arctic, the largest home appliance producer in Romania, requested a state aid of over EUR 36.5 million. Tire maker Pirelli asked for almost EUR 29 million whereas Robert Bosch, part of the German group Bosch, demanded a state aid of EUR 21.7 million.

Aluminum producer Alu Menziken asked for over EUR 20.3 million, Safe Med International requested over EUR 16.3 million, and the chemical producer Clariant Products Ro asked for EUR 15.4 million.

editor@romania-insider.com