A PYMNTS Company

State aid scheme to close three Romanian coal mines approved

By  |  February 22, 2012

The European Commission has approved RON 1169 million (approximately €270 million) in public funding to close three Romanian coal mines: Petrila, Uricani and ParoÅŸeni Collieries. The mines, owned by National Hard Coal Company JSC Petrosani, are considered uncompetitive; as such, they fall under Council Decision 2010/787/EU on state aid, permitting public support to close uncompetitive hard coal mines.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Commission approved the plan because support will decrease over time, by 2017, and because Romania has committed to measures mitigating the environmental impact of coal and the employment consequences of miners formerly at the three mines.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Source: EC Press Release