Spectator on facebook

Spectator on facebook

EC okays Slovakia’s investment aid for Mondi SCP

Mondi SCP wants to invest some €310 million while it asks for investment aid worth €49 million.

Paper mill Mondi SCP in Ružomberok(Source: TASR)

The European Commission (EC) announced on July 13 that based on its investigation, Slovakia’s decision to grant investment aid worth €49 million to the papermill Mondi SCP in Ružomberok (Žilina Region) is in line with EU regulations on state aid.

The EC has concluded that state investment aid in the form of a tax allowance granted to the company in March 2016, following the EC’s preliminary approval, will contribute towards developing the area without violating the competition rules of the EU’s single market.

Read also: Read also:Opposition slams aid for Mondi SCP

Mondi SCP wants to invest some €310 million in expanding the production line at its plant in Ružomberok. In particular, it wants to acquire a machine for making a new product – white-surface cardboard. The company should thus create 105 new jobs.

The EC took into account the fact that the town of Ružomberok is among the areas eligible for regional aid.

In its media statement, the EC said that the positive effects of this project in terms of regional development outweigh any distortion of competition induced by state aid.

Topic: Industry


Top stories

How did Communism happen in Czechoslovakia?

For the 40 years, Czechs and Slovaks would celebrate February 25 as Victorious February, even though the enthusiasm of most of those who supported Communists in 1948 would very quickly evaporate.

Prime Minister Klement Gottwald (right) swears an oath into the hands of President Edvard Benes on February 27, 1948 at the Prague Castle.

Cemetery with a remarkable creative concept Photo

The shapes of tombstones were prescribed until 1997

Vrakuňa Cemetery in Bratislava

Being young is harder than it used to be

The failure of older generations to sympathise with youth means politics are primarily a contest of who can hand out more gifts to old people.

Young Slovaks have problems finding proper jobs.

Historian: After 1948, Czechoslovakia was paralysed with fear

On February 25, Czechs and Slovaks mark 70 years since the rise of Communism in their common state. Historian Jan Pešek talks about the coup and its aftermath.

Demonstration in Prague, Wenceslas' Square, on February 28, 1948.