Romanian Govt. grants EUR 105 mln state aid to nine local companies

Romania’s government signed on Monday, November 12, the financing agreements for granting RON 491 million (EUR 105 million) worth of state aid to nine companies. The grants will help these companies finance investments totaling some RON 1.3 billion (EUR 279 million) and create about 2,000 new jobs. Three companies that are part of construction materials group Teraplast, the company that produces the Borsec mineral water and the company that operates the Therme thermal spa complex near Bucharest are among the lucky winners of state support. Of the nine companies that will get state aid, seven are controlled by Romanian shareholders. Since the state aid scheme was launched, on September 10, 46 investment projects were submitted for financing, their total value amounting to over RON 4.5 billion (EUR 965 million). The value of the requested state aid for these project is RON 1.6 billion (EUR 343 million) almost triple the sum the Government allotted this year for this program. EC asks Romania to recover EUR 60 mln state aid from troubled power producer Demand for state aid, double compared to available funds for this year in Romania editor@romania-insider.com