Press Release: State aid: Commission endorses proposed €83 million aid to Progroup for large investment project in Germany

The European Commission authorised, under EC Treaty state aid rules, €83 million of aid, which the German authorities intend to grant to Propapier PM 2 belonging to the German Progroup for the construction of a paper mill in Eisenhüttenstadt, in the Brandenburg-Nordost region. The Commission's assessment found the measure to be compatible with the requirements of the Regional Aid Guidelines 2007-2013. The investment project of €640 million by Progroup will significantly contribute to the diversification of Eisenhüttenstadt's economy, which is currently focused on the metal industry, thus benefiting the further development of the region.