August 29 (SeeNews) - Romania's finance ministry said on Monday it has approved 621 million lei ($155.6 million/139 mln euro) in state aid for six investment projects.
The six projects are worth a total 2.28 billion lei, excluding the state financial aid, the ministry said in a statement.
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The biggest sum, of 163 million lei, will go to Romanian home appliances manufacturer Arctic, a unit of Turkey's Arcelik, for a new
washing machine and dishwasher factory. Arctic announced the investment project at the beginning of the year, saying that it will go ahead with it only if it receives financial state aid.
A further 128 million lei will be provided to Italian industrial group Pirelli, which already operates a tire factory and a plant for filters for diesel engines in Romania.
Electronics manufacturer Robert Bosch will receive 96 million lei, Swiss industrial company Alu Menziken will get 90 million lei, medical company Safe Med International will be backed by 72 million lei and specialty chemicals company Clariant Products will receive 68 million lei in support.
In March, the finance ministry said it plans to raise state support for investors by 45% to 145 million euro ($162 million) annually due to high investor interest.
The finance ministry launched the scheme in November 2014. To qualify for state aid, a company must be ready to invest at least 10 million euro, VAT excluded.
In 2015, it approved 436 million lei in support of nine investment projects during its first financing round in the November 2014 - June 2015 period.The nine project are worth a total 1.05 billion lei, excluding the state financial aid, and will generate 3,332 new jobs.
(1 euro =4.4621 Romanian lei)
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