Nine Romanian businesses granted EUR 200 million for their investment projects
The Romanian Ministry of Finance has allocated a significant portion of its regional development fund to support nine businesses, totaling approximately EUR 200 million. The approved state aid, which covers projects submitted during the first application session from July 29 to September 9, 2024, will stimulate economic growth and industrial competitiveness.
The selected companies, which include Pirelli Tyres Romania SRL, Saint-Gobain Glass Romania SRL, and Universal Alloy Corporation Europe SRL, will collectively invest over EUR 474 million in Romania. Their projects target key sectors like industrial production, automotive components, agribusiness, and construction materials.
The regional development scheme, established by Government Decision No. 300/2024, has a total budget of EUR 450 million and will grant financing agreements until the end of 2026. The funding will be disbursed between 2025 and 2032.
Following the current approvals, the Ministry of Finance is now assessing nine more requests seeking over EUR 486 million in state aid. The scheme aims to foster economic growth in less developed regions, promote job creation, and enhance Romania's industrial competitiveness by offering targeted support for significant investment initiatives.
It's worth noting that while the scheme is bringing substantial investments to Romania, some companies, like Chimcomplex, have faced challenges in securing the full amount of requested aid, resulting in legal disputes.
Sources:[1] Romanian Ministry of Finance Official Announcement[2] Legal Disputes Regarding Aid to Chimcomplex (Various Media Outlets, 2024)[4] European Commission Suspension of Major Financial Support to Romania (Various Media Outlets, 2023)
The approved state aid, largely originating from the regional development fund under the Ministry of Finance, will be used for investment in key sectors like finance and industry. The nine companies receiving this aid will collectively allocate a substantial portion of their investments towards projects in the finance sector.
