COMMISSION DECISION
of 11 December 2007
on State aid C 51/06 (ex N 748/06) which Poland has implemented for Arcelor Huta Warszawa
(notified under document number C(2007) 6077)
(Only the Polish version is authentic)
(Text with EEA relevance)
(2008/406/EC)
I. PROCEDURE
II. DETAILED DESCRIPTION OF THE AID
1. The restructuring programme of the 2003 IBP
(a) Investments
In PLN 1 000 |
2002 |
2003 |
2004 |
2005 |
2006 |
Total |
Steel-shop |
|
|
|
|
[…] |
[…] |
Hot rolling mills |
[…] |
[…] |
[…] |
[…] |
[…] |
[approx. 95 %] |
General |
[…] |
[…] |
[…] |
[…] |
[…] |
[…] |
Drawing mill |
[…] |
[…] |
[…] |
[…] |
[…] |
[…] |
Total |
[…] |
[…] |
[…] |
[…] |
[…] |
[PLN 150-220 million] |
(b) Employment restructuring
(c) Financial restructuring
(d) Environmental restructuring
(e) Financing the restructuring
(f) Conclusion as to the restructuring efforts under the 2003 IBP
2. State aid
|
NRP (in PLN 000) |
State aid obtained (in PLN 000) |
Difference (in PLN 000) |
Total 2002-03 |
321 878 000 |
203 946 000 |
117 932 000 |
Date, interest paid |
Total interest |
Interest on the part of the loan used for repayment of the sale and leaseback agreement |
Interest on the part of the loan used for investment |
30.12.2004 |
EUR 371 931 |
EUR 363 880 |
EUR 8 051 |
30.6.2005 |
EUR 536 522 |
EUR 491 612 |
EUR 44 910 |
16.9.2005 |
EUR 224 336 |
EUR 205 557 |
EUR 18 778 |
|
EUR 1 132 788 |
EUR 1 061 050 |
EUR 71 738 |
3. Implementation of the 2003 IBP
4. Changes in the 2003 IBP
In PLN 000 |
2002(15) |
2003(15) |
2004(15) |
2005 |
2006 |
Total |
Steel-shop |
[…] |
[…] |
[…] |
[…] |
[…] |
[…] |
Hot rolling mills |
[…] |
[…] |
[…] |
[…] |
[…] |
[approximately 120 % of the total investment amount shown in Table 1] |
General |
[…] |
[…] |
[…] |
[…] |
[…] |
[…] |
Total |
[…] |
[…] |
[…] |
[…] |
[…] |
[approximately 140 % of the total investment amount shown in Table 1] |
5. Capacity development
Production |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
Remarks |
Liquid steel |
[…] |
[…] |
[…] |
[…] |
[…] |
[approx. 100 % of total mill capacity] |
[idem] |
No changes |
Flat products |
20 |
20 |
20 |
20 |
0 |
0 |
0 |
Stipulated by Protocol No 8 |
Rolling mill — wire rod |
180 |
180 |
180 |
180 |
180 |
0 |
0 |
Stipulated by Protocol No 8 |
Rolling mill merchant bars light-sections profiles |
[…] |
[…] |
[…] |
[…] |
[…] |
[approx. 40 %] |
0 |
New strategy(16) |
Rolling mill long heavy-sections profiles |
[…] |
[…] |
[…] |
[…] |
[…] |
[approx. 60 %] |
0 |
New strategy(16) |
Rolling mill forged profiles |
[…] |
[…] |
[…] |
[…] |
[…] |
[…] |
0 |
New strategy(16) |
Cold-rolled strip |
30 |
0 |
0 |
0 |
0 |
0 |
0 |
Stipulated by Protocol No 8 |
New rolling mill |
0 |
0 |
0 |
0 |
0 |
[…] |
[Approx. 70 %] |
New strategy (not provided for in Protocol No 8) |
III. REASONS FOR INITIATING THE PROCEDURE
IV. COMMENTS FROM POLAND
V. COMMENTS FROM INTERESTED PARTIES
VI. ASSESSMENT
1. Applicable law
2. Misuse of aid
(a) Scope of restructuring established in the original investment plan
(b) Incompatibility of the misused aid
(c) Effect of the incompatibility of the misused aid on the entire restructuring plan
(d) Aid element of the misused part of the guaranteed loan
(EUR) |
|
Total amount financed |
31 245 684,00 |
Appropriate interest required from 24.8.2004 to 16.9.2005 |
2 807 206 |
Interest actually paid by HLW on guaranteed loan |
1 061 050 |
Preparation fee for guarantee, pro rata over total guarantee and loan duration |
31 792 |
State Treasury Fee, pro rata over total guarantee and loan duration |
68 683 |
Total costs for guaranteed loan actually incurred |
1 161 525 |
Interest differential (= benefit) |
1 645 682 |
Plus compound interest at recovery rate from 24.8.2004 to 20.11.2007 |
444 086 |
Payable on 20.11.2007 |
2 089 768 |