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EU Commission Approves State Aid for Volkswagen Slovakia
Wednesday 02 December 2009 Zoom in | Print page
Brussels, December 2 (TASR) - The European Commission on Wednesday authorised Slovakia to provide Volkswagen Slovakia with state aid of €14.3 million in the form of tax relief - a motion that will be aimed at transformation of the Bratislava branch.
According to the Commission, the move is in accordance with the EU rules on state aid and won't lead to undue distortion of competition. In addition, the Commission said that the assistance will considerably contribute to the economic development in the region.
The Volkswagen investment plan is aimed at diversification of its production and significant improvement of its production capacities in Bratislava. The project concerns launching production of a new car called New Small Family with the maximum production capacity reaching 280,000 cars a year by 2010.
Due to the amount of the assistance, Slovakia had to inform the Commission about the intention and ask for an approval.
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