Gdansk Shipyard to Receive EC Aid

22 July 2009 (Last Updated July 22nd, 2009 18:30)

Poland’s Gdansk Shipyard is set to receive €251m from the EC under the EC Treaty state aid regulations for restructuring work. The funds will be used by the shipyard for various support measures over several years. The EC said the proposal would help improve the shipyard and eli

Poland’s Gdansk Shipyard is set to receive €251m from the EC under the EC Treaty state aid regulations for restructuring work.

The funds will be used by the shipyard for various support measures over several years.

The EC said the proposal would help improve the shipyard and eliminate the distortions of competition, triggered by subsidised operations, through production capacity shut downs.

The commission’s approval also allows the shipyard to use state aid sanctioned to it since 2004 when Poland became part of the European Union along with an additional €35m aid to be used for its restructuring.