RO will cancel CO2 subsidies for industrial groups that cut employment by over 5%

Romania refused to pay the promised CO2 subsidies to "two to three" large industrial consumers that reduced employment.

The authorities will withdraw the subsidies for the recipients that cut their workforce during the program's three-year period, minister of economy and energy Virgil Popescu said, quoted by Profit.ro.

Under a scheme approved by the European Commission, the Romanian Government will disburse EUR 291 million subsidies to companies in energy-intensive, to cover part of their expenditures related to the purchase of green certificates.

Specifically, the financial support will cover 75% of the eligible costs.

The state aid aims to help companies operating in sectors such as aluminum and steel production, including seamless steel pipes, as well as the chemical and petrochemical industry.

(Photo: virgil Popescu Facebook Page)