EC clears EUR 100mn grant Romania gives to Nokian Tyres for its investment
<p>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.</p>

<p>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.</p>

<p>The investment is estimated at approximately EUR 650 million.</p>

<p>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.</p>

<p><em>(Photo: <a href="https://www.dreamstime.com/" rel="noopener" target="_blank">Cosmin Iftode/ Dreamstime</a>)</em></p>

<p><em>iulian@romania-insider.com</em></p>