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European Commission Opens Investigation for Spanish Aquaculture Company

Technology & equipment Economics Politics +3 more

SPAIN - Spain notified its intention to provide aid to the company Ultracongelados Antartid, which processes aquaculture products and is part of the Group Pescanova, to modernise its facilities.

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The European Commission is opening a formal investigation into this intention as it has doubts in relation to the compatibility of this type of aid with the internal market in particular when large companies are concerned.

Moreover, it is questioned whether the proposed public aid will act as an incentive to the company concerned to make an investment beyond what it would have done even in the absence of State aid.

Spain and all interested parties are invited to provide comments on the Commission's position.