Press Release: State aid: Commission endorses €65 million of investment aid to Samsung for LCD plant in Slovakia

The European Commission authorised, under EC Treaty state aid rules, around €65 million of aid that the Slovak authorities intended to grant to Samsung Electronics LCD Slovakia s.r.o., belonging to the Korean Samsung Group. The aid was intended for the setting up of a production plant for the assembly of liquid crystal display (LCD) TV modules in Voderady, Slovakia. The Commission's assessment found that the measure complied with the requirements of the Regional Aid Guidelines of 1998 and the conditions of the Multisectoral Framework on regional aid for large investment projects. The high-tech project, with a total investment of nearly €300 million, will contribute to the regional development of Western Slovakia by creating around 1200 direct jobs and attracting further investment by component suppliers and subcontractors into the area, liable to give rise to more than 3700 indirect jobs.

• Primary Source