November 23, 2017

EUR 270 mln aside for state aid when closing 3 coals mines

The European Commission authorized almost EUR 270 million of public funding to be used by Romania for closing three uncompetitive coals mines owned by the National Hard Coal Company JSC Petrosani (CNH SA). CNH is a publicly owned company and the only coal producer in Romania, operating 7 mines. However, Romania has decided to close Petrila Colliery by end-2015. The other two, Uricani and Paroseni Collieries, should see their activity cease by end-2017. Romania wants to close mines in order to decrease the overall amount of aid granted to cover production costs.

Source: Business-Review (read more)

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