BRUSSELS WARNS GREEK STEEL RAW MATERIALS SUPPLIER MAY HAVE TO REPAY SUBSIDIES
March 1st, 2013
A Greece ferronickel, laterite ore and lignite company may have to repay to the Greek government subsidies worth more than Euro EUR105 million, after the European Commission aired concerns they might have been paid illegally.Brussels has now opened an in depth investigation into handouts to steel raw materials supplier Larco General Mining and Metallurgical Company SA. This will allow Larco and others to argue the subsidies were legal, but the probe does indicate the Commission believes they breached European Union (EU) state aid laws. These are designed to ...
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