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Croatian Competition Agency subsequently okays state aid to Rockwool factory

Autor: mses
ZAGREB, Jan 3 (Hina) - The Croatian Competition Agency (AZTN) has subsequently approved the state subsidies the Rockwool Adriatic enterprise received during 2004 and 2005 for the construction of a rockwool factory in the Istrian municipality of Pican, according to a press release issued on Monday following a meeting of the AZTN Council on 30 December.

Rockwool Adriatic was granted nearly HRK 18 million in subsidies by the Economy Ministry and the municipal authorities in Pican without the the prior approval of the Competition Agency. The subsidies were granted in the form of customs and tax benefits and in the form of exemption from paying for utility services and charges for the connection to the municipal water supply system, and the investor was allowed to buy the plot of land for its factory at a price that was lower than the market price.

The agency found that the subsidies were actually support for the initial investment in accordance with the rules regulating regional support for major projects which the Competition Agency applies under the Stabilisation and Association Agreement.

For that reason the subventions granted by the Economy Ministry and the Municipality of Pican have been subsequently approved, the agency said.

(Hina) ms

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