EC clears EUR 100mn grant Romania gives to Nokian Tyres for its investment  

14 August 2024

The European Commission (EC) on August 13 announced that it approved, under the EU rules on state aid, a EUR 99.5 million (EUR 495 million) extended by Romania to Nokian Tyres.

Romania has notified the Commission of its plan to support Nokian Tyres in setting up a new zero-carbon tire factory in Oradea, in Bihor county. Under the measure, the aid will be granted in the form of a direct grant.

The investment is estimated at approximately EUR 650 million.

The factory is expected to have a production capacity of approximately 6mn units per year. The project will create about 500 direct jobs, as well as other indirect jobs.

(Photo: Cosmin Iftode/ Dreamstime)

iulian@romania-insider.com

Normal

EC clears EUR 100mn grant Romania gives to Nokian Tyres for its investment  

14 August 2024

The European Commission (EC) on August 13 announced that it approved, under the EU rules on state aid, a EUR 99.5 million (EUR 495 million) extended by Romania to Nokian Tyres.

Romania has notified the Commission of its plan to support Nokian Tyres in setting up a new zero-carbon tire factory in Oradea, in Bihor county. Under the measure, the aid will be granted in the form of a direct grant.

The investment is estimated at approximately EUR 650 million.

The factory is expected to have a production capacity of approximately 6mn units per year. The project will create about 500 direct jobs, as well as other indirect jobs.

(Photo: Cosmin Iftode/ Dreamstime)

iulian@romania-insider.com

Normal
 

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