EU Approves €143 million Romanian Government Aid To Ford

The European Commission has given its consent to the Romanian government to grant Ford €143 million (approx $226 million) for the production of vehicles and engines in Craiova, in the South West of Romania. Ford’s total investment costs in the area amount to €435 million for the vehicle project and to €165 million for the engine project, while the actual government aid amounts are €94 million and €49 million respectively. -Continued
Last October, European regulators launched an official investigation to find out whether the Romanian government violated EU rules on state aid with its decision. Under EU rules, state aids to businesses are allowed only if they boost employment in poor or underdeveloped areas.
According to the European commission, Ford’s plans to completely overhaul the two Romanian plants it purchased to manufacture vehicles and engines will create approximately than 40 000 direct and indirect jobs in Craiova which is considered as one of the EU's poorest regions.
Source URL: https://sparesomeribs.blogspot.com/2008/05/eu-approves-143-million-romanian.html
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