2005/827/EC: Commission Decision of 16 June 2004 on the measures implemented by Spain for Siderúrgica Añón SA (notified under document number C(2004) 1813) (Text with EEA relevance)

• Articles: 5

Article 1

1.   The state aid which Spain has granted to Siderúrgica Añón SA is incompatible with the common market.

2.   The aid referred to in paragraph 1 includes the following:

(a)

the aid element involved in the stake acquired by SODIGA in the share capital of Siderúrgica Añón, which corresponds to:

(i)

an annual premium of 5,13 % applied to the initial capital injection of EUR 1 803 060 reduced by the five annual repayments of EUR 150 916 in the case of the first stake, acquired in 2001, and

(ii)

an annual premium of 3,86 % applied to the initial capital injection of EUR 495 180 reduced by the four annual repayments of EUR 41 868 in the case of the second stake, acquired in 2002;

(b)

the grant awarded by IGAPE on 10 November 2000, amounting to EUR 2 399 407;

(c)

the interest subsidies granted with respect to the syndicated loan of EUR 9 616 193 of 2 April 2001 via the 30 % guarantee, i.e. 0,3 % p.a., and the direct interest subsidy of 0,25 % p.a. provided by IGAPE, which in total amounts to EUR 52 889,1 p.a.;

(d)

the payment of the formalisation fee of EUR 48 081 by IGAPE with respect to the loan of EUR 9 616 193 of 2 April 2001;

(e)

the interest subsidy of 5,7 % p.a. contained in the interest-free loan of EUR 1 803 036 granted by the Ministry of Science and Technology on 29 December 2000.

Article 2

1.   Spain shall refrain from any further grant of aid to the recipient via the measures referred to in Article 1.

With regard to payments already authorised but not made by the date of adoption of this Decision, Spain may require the reimbursement of all payments made after the date of adoption of this Decision or as of that date shall adjust the conditions of the measures listed in Article 1 to market conditions as referred to in this Decision.

2.   Spain shall take all necessary measures to recover from the recipient the aid referred to in Article 1.

3.   Recovery shall be effected without delay in accordance with the procedures under national law, provided these allow the immediate and effective implementation of this Decision. The sums to be recovered shall bear interest throughout the period running from the date on which they were first put at the disposal of the recipient until their actual recovery. The interest rate to be applied shall be the reference rate used for calculating the grant equivalent of regional aid.

The interest rate referred to in the first subparagraph shall be applied on a compound basis throughout the entire period referred to therein.

Article 3

Spain shall inform the Commission, within two months following notification of this Decision, of the measures planned and already taken to comply with it. It shall provide this information using the questionnaire attached in Annex to this Decision.

Article 4

This Decision is addressed to the Kingdom of Spain.

Schedules & Appendices

ANNEX

ANNEX

Information regarding the implementation of the Commission Decision

1.   CALCULATION OF THE AMOUNT TO BE RECOVERED

1.1.

Please provide the following details regarding the amount of unlawful State aid that has been put at the disposal of the recipient:

Concise description of the measure  ( 1 )

Date(s) of payment  ( 2 )

Amount of aid  ( *1 )

Currency

Date(s) of repayment  ( *2 )

Comments:

1.2.

Please explain in detail how the interest payable on the amount to be recovered will be calculated.

2.   RECOVERY MEASURES PLANNED OR ALREADY TAKEN

2.1.

Please describe in detail what measures have been taken and what measures are planned to bring about the immediate and effective recovery of the aid. Where relevant, please indicate the legal basis for the measures taken or planned.

2.2.

By what date will the recovery of the aid be completed?

3.   RECOVERY ALREADY EFFECTED

3.1.

Please provide the following details of aid that has been recovered from the recipient:

Concise description of the measure

Date(s)  ( 3 )

Amount of aid repaid

Currency

Date(s) of repayment  ( 4 )

3.2.

Please attach supporting documents for the repayments shown in the table at point 3.1.

( 1 )

(°)

If the measure consists of several instalments and reimbursements, use separate rows.

( 2 )

(°°)

Date or dates on which the aid or individual instalments of aid were put at the disposal of the recipient.

( *1 )   Amount of aid put at the disposal of the recipient, in gross grant equivalent.

( *2 )   Date or dates on which the recipient repaid the aid or individual instalments of aid.

( 3 )

(°)

Date or dates on which the aid or individual instalments of aid were put at the disposal of the recipient.

( 4 )

(°°)

Date or dates on which the aid was repaid.