The Romanian Government approves, on Thursday, a state aid of nearly 100 million euros for the factory built by Nokian Tyres in Oradea.
„The most important project today is the support, through a state aid of nearly 100 million euros, for the factory built by Nokian Tyres in Oradea. I was there with my colleagues and I saw an ultra-modern auto tire plant, with state-of-the-art technology. An investment of over 625 million euros that will provide 550 jobs,” said Prime Minister Marcel Ciolacu at the beginning of the meeting.
He said that this is a successful model in which the Government supports a major private investment that generates a multiplier effect in the economy, at the regional and local levels.
"It is a major step in the country's reindustrialization program and we want to replicate the example from Oradea in all counties of Romania," concluded Ciolacu, quoted by News.ro.
In August, the European Commission approved the state aid worth 99.5 million euros to support the tire factory, with zero CO2 emissions, a world premiere.
The factory being built in Oradea will have a production capacity of approximately 6 million units per year.
It is anticipated that the project will bring benefits in terms of sustainability, will contribute to job creation, economic development, and the competitiveness of a disadvantaged area.
Additionally, the European Commission has found that the aid has a stimulating effect, as the beneficiary would not have realized the project without public support.