EU Approves €995 Million for Nokian Tyres' Zero-Emission Factory in Romania
Approval Under EU State Aid Rules
The European Commission has approved a €995 million Romanian state aid package for Nokian Tyres' new zero-carbon dioxide emission factory for passenger car tires in Romania.
Details of the Aid
- Amount: €995 million (RON 4,952 million)
- Purpose: Support the establishment of the new factory
- Conditions: The factory must meet specific environmental and economic performance targets
Significance of the Project
The new factory will contribute to:
- Reducing CO2 emissions in the tire manufacturing industry
- Creating new jobs and boosting economic growth in Romania
- Strengthening EU's position as a leader in sustainable transportation
Background and Impact
The approval of the state aid package is based on the EU's environmental and state aid policies.
The Commission assessed the project's impact:
- Positive environmental effects: reduction in CO2 emissions
- Limited negative effects on competition: the project does not create undue distortions in the market
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