Nokian Tyres receives an ad hoc regional state aid in the form of a grant worth 495.2 million lei, informs the Ministry of Finance, which has prepared a draft Decision in this regard.
The state aid is paid until December 31, 2027, after the company has partially or fully incurred the eligible expenses. The submission deadline for the last payment request is September 1, 2027.
“The ad hoc regional state aid was notified to the European Commission on February 21, 2024. Based on the notification sent by the Ministry of Finance, the European Commission issued the decision authorizing the ad hoc regional state aid C (2024) 5876 final of 13.08.2024”, says the institution.
Nokian Tyres’ investment in Romania, estimated at 3.116 billion lei, involves building a production facility and equipping it with equipment for tire production in Oradea, Bihor county.
The proposed investment leads to the direct creation of 553 new jobs, of which approx. 15% (84 jobs) will require higher education/high level of qualification or experience, especially for the positions of managers, team leaders, engineers, quality inspectors, technicians, etc.
“The value of eligible expenses is estimated at 3,041,692,216 lei. The eligible expenses are represented by the expenses related to the realization of constructions, respectively the acquisition, as the case may be, of installations, machinery and equipment”, says the Ministry of Finance.
Nokian Tyres PLC established a subsidiary legal entity in Romania, named Nokian Tires Europe Operations SRL, whose sole shareholder will be the Finnish company.