BUSINESS IN SHORT

Mondi asks for state stimuli

RUŽOMBEROK-based paper mill Mondi SCP has asked for state stimulus of €25.4 million, as part of the investment to increase its production. The investment stimulus will not help the company to create new jobs, but is intended to preserve those that would otherwise have to be cut, the SITA newswire wrote.

RUŽOMBEROK-based paper mill Mondi SCP has asked for state stimulus of €25.4 million, as part of the investment to increase its production. The investment stimulus will not help the company to create new jobs, but is intended to preserve those that would otherwise have to be cut, the SITA newswire wrote.

The Economy Ministry has already approved the aid in the form of tax relief, saying that the “aid for the investment target does not exceed the maximum aid” which the state can give.

Thanks to the investment, which will cost the company together €90 million, Mondi SCP will increase the production of cellulose by 25,000 tons a year. Moreover, the company will create the conditions which will allow the paper mill to boost production up to 50,000 tons a year, SITA wrote.

In order to receive the aid the company had to promise to keep 766 jobs, which would otherwise be cut due to the increase of effectiveness of cellulose and paper production, during the following six years.

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