The European Commission said on October 25 that the EC has found Hungary’s €131 million investment aid to MOL Petrolkémia Zrt plant, for its existing plant in Tiszaújváros, to be in line with EU State aid rules.
Tiszaújváros is located in the Northern Hungary region, an area eligible for regional aid under the EU Treaty. The project is expected to create new direct jobs in Tiszaújváros. Thus, the Hungarian support will contribute to the development of the Northern Hungary region, whilst preserving competition in the Single Market, the Commission said, adding that in particular, the investment aid granted by Hungary will support MOL’s plans to invest in total €874 million to introduce in in Tiszaújváros the production of polyols and propylene glycols (chemicals used in the production of for example certain foams, in food processing, personal care products and pharmaceuticals etc.).
The Commission assessed the aid measure under the Guidelines on Regional State Aid for 2014-2020, which enable Member States to support economic development and employment in the EU’s less developed regions and to foster regional cohesion in the Single Market.
https://www.neweurope.eu/article/eu-approves-hungarys-investment-aid-mol-petrochemical-plant/
