Commission Decision (EU) 2015/1587 of 7 May 2015 on the State aid SA.35546 (2013/C) (ex 2012/NN) implemented by Portugal for Estaleiros Navais de Viana do Castelo S.A. (notified under document C(2015) 3036) (Text with EEA relevance)

• CELEX: Decision (EU) 2015/1587
• Articles: 7

Article 1

1.   The comfort letters dated 8 January 2007 and 26 June 2008 do not constitute State aid within the meaning of Article 107(1) TFEU.

2.   The State aid contained in the shipbuilding subsidies corresponding to contracts C224 and C225 (amounting to EUR 5 350 550) is compatible with the internal market.

3.   The State aid referred to in the table below, unlawfully put into effect by Portugal in breach of Article 108(3) of the Treaty on the Functioning of the European Union, is incompatible with the internal market.

Date

Measure

Amount

11 May 2006

2006 capital increase

24 875 000

2012/2013

2012 and 2013 loans

101 118 066,03

(i)

31 January 2006

(ii)

11 December 2008

(iii)

28 April 2010

(iv)

27 April 2011

DGTF loans

(i)

30 000 000

(ii)

8 000 000

(iii)

5 000 000

(iv)

13 000 000

29 November 2011

Comfort letters for a loan granted by BCP

990 000

3 November 2011

Comfort letter for a loan granted by BCP

400 000

30 September 2010

Comfort letter for a loan granted by BCP

12 500 000

31 August 2010

Comfort letters for two standby letters of credit issued by CGD

12 890 000

24 June 2010

Comfort letter for a loan granted by BCP

5 000 000

25 November 2009

Comfort letter for revolving loan by CGD

15 000 000

7 September 2009

Comfort letter for revolving loan by BES

4 500 000

—

Shipbuilding subsidies (contracts C212, C213, C214 and C223)

10 482 374,01

—

Shipbuilding subsidies (contracts C206, C211, C217, C218, C219, C220, C221 and C222)

11 279 009,01

—

Aid for professional training 2005-2006

257 791

23 December 2009

Loan for the Atlântida vessel

37 000 000

Article 2

1.   Portugal shall recover the incompatible aid referred to in paragraph 2 of Article 1 from the beneficiary (including, where applicable, the interests accrued and not paid by ENVC), with the exception of the shipbuilding subsidies linked to contracts C206, C211, C217, C218, C219, C220, C221 and C222 (for an overall amount of EUR 11 279 009,01) for them being subject to the 10-year limitation period laid down in Article 15 of Regulation (EC) No 659/1999.

2.   Such recovery of incompatible State aid shall not concern WestSea.

3.   The sums to be recovered shall bear interest from the date on which they were put at the disposal of the beneficiary until their actual recovery.

4.   The interest shall be calculated on a compound basis in accordance with Chapter V of Commission Regulation (EC) No 794/2004  ( 56 ) , and to Commission Regulation (EC) No 271/2008  ( 57 ) amending Regulation (EC) No 794/2004.

5.   Portugal shall cancel all outstanding payments of aid, if any, with effect from the date of adoption of this decision.

Article 3

1.   Recovery of the aid referred to in paragraph 2 of Article 1 shall be immediate and effective.

2.   Portugal shall ensure that this Decision is implemented within four months following the date of notification of this Decision.

Article 4

1.   Within two months following notification of this Decision, Portugal shall submit the following information:

(a)

the total amount (principal and recovery interests) to be recovered from each beneficiary;

(b)

a detailed description of the measures already taken and planned to comply with this Decision;

(c)

documents demonstrating that the beneficiary has been ordered to repay the aid.

2.   Portugal shall keep the Commission informed of the progress of the national measures taken to implement this Decision until recovery of the aid referred to in paragraph 2 of Article 1 has been completed. It shall immediately submit, on simple request by the Commission, information on the measures already taken and planned to comply with this Decision. It shall also provide detailed information concerning the amounts of aid and recovery interest already recovered from the beneficiaries.

Article 5

This Decision is addressed to Portugal.

Schedules & Appendices

ANNEX I

ANNEX I

THE 2012 AND 2013 LOANS

Date of signature

Amount

Interest rate applied

6 January 2012

970 000,00

7,108 %

9 January 2012

175 000,00

3-month EURIBOR + 7,108 %

31 January 2012

3 445 258,51

3-month EURIBOR + 6,62 %

8 February 2012

64 741,49

3-month EURIBOR + 6,62 %

30 March 2012

1 026 647,44

3-month EURIBOR + 7,887 %

30 March 2012

16 700 000,00

2 %

30 April 2012

1 268 536,13

3-month EURIBOR + 5 %

2 May 2012

48 997,82

3-month EURIBOR + 7,887 %

30 May 2012

1 100 000,00

3-month EURIBOR + 8,431 %

31 May 2012

5 375 000,00

3-month EURIBOR + 8,5 %

31 May 2012

834 830,96

3-month EURIBOR + 8,451 %

1 June 2012

12 844 000,00

3-month EURIBOR + 4,976 %

5 June 2012

281 000,00

3-month EURIBOR + 4,976 %

6 June 2012

345 000,00

3-month EURIBOR + 7,682 %

8 June 2012

1 449 714,00

3-month EURIBOR + 7,682 %

11 June 2012

696 481,42

3-month EURIBOR + 7,682 %

21 June 2012

177 979,74

3-month EURIBOR + 7,682 %

21 June 2012

4 785 000,00

3-month EURIBOR + 8,1509 %

22 June 2012

118 070,71

3-month EURIBOR + 7,682 %

25 June 2012

83 694,43

3-month EURIBOR + 4,976 %

26 June 2012

1 163 308,28

3-month EURIBOR + 4,976 %

29 June 2012

664 537,83

3-month EURIBOR + 4,976 %

3 July 2012

272 811,37

3-month EURIBOR + 8,5 %

11 July 2012

71 104,02

3-month EURIBOR + 4,976 %

11 July 2012

1 742 275,55

3-month EURIBOR + 8,1509 %

13 July 2012

40 000,00

3-month EURIBOR + 8,431 %

19 July 2012

45 000,00

3-month EURIBOR + 4,956 %

27 July 2012

1 000 000,00

3-month EURIBOR + 5,78 %

31 July 2012

400 000,00

3-month EURIBOR + 8,182 %

31 July 2012

1 450 000,00

3-month EURIBOR + 4,756 %

2 August 2012

100 000,00

3-month EURIBOR + 8,182 %

14 August 2012

275 000,00

3-month EURIBOR + 8,151 %

17 August 2012

180 000,00

3-month EURIBOR + 8,1509 %

20 August 2012

1 186 322,44

3-month EURIBOR + 8,1509 %

20 August 2012

400 000,00

3-month EURIBOR + 5,624 %

24 August 2012

600 000,00

3-month EURIBOR + 5,624 %

13 September 2012

365 000,00

3-month EURIBOR + 5,624 %

19 September 2012

5 111 910,08

Debt of ENVC towards Parvalorem assumed by EMPORDEF

21 September 2012

19 000,00

3-month EURIBOR + 5,624 %

25 September 2012

1 180 491,65

3-month EURIBOR + 4,668 %

27 September 2012

1 050 000,00

3-month EURIBOR + 5,624 %

28 September 2012

48 000,00

3-month EURIBOR + 5,624 %

12 October 2012

120 000,00

5,871 %

16 October 2012

15 000,00

8,1509 %

19 October 2012

566 000,00

3-month EURIBOR + 4,64 %

26 October 2012

1 000 000,00

3-month EURIBOR + 4,64 %

29 October 2012

84 685,34

8,151 %

30 October 2012

120 000,00

8,1509 %

2 November 2012

10 570 971,04

5,871 %

9 November 2012

5 227,50

4,459 %

27 November 2012

250 000,00

5,871 %

28 November 2012

250 000,00

8,1509 %

29 November 2012

200 000,00

7,915 %

29 November 2012

120 000,00

5,871 %

30 November 2012

84 685,12

5,871 %

3 December 2012

300 000,00

4,459 %

3 December 2012

35 000,00

7,915 %

7 December 2012

1 500,00

8,151 %

11 December 2012

100 000,00

4,459 %

14 December 2012

180 000,00

4,459 %

19 December 2012

200 000,00

4,459 %

20 December 2012

29 159,75

4,459 %

21 December 2012

1 000 000,00

5,871 %

28 December 2012

5 000 000,00

7,915 %

31 December 2012

16 500,00

4,459 %

4 January 2013

120 000,00

4,459 %

9 January 2013

84 756,80

4,459 %

11 January 2013

260 000,00

7,911 %

17 January 2013

200 000,00

8,15 %

8 February 2013

5 767 984,59

4,165 %

31 May 2013

5 281 882,02

Interest to be paid by ENVC to EMPORDEF for the 2012 loans

Total: 101 118 066,03

ANNEX II

ANNEX II

THE SHIPBUILDING SUBSIDIES

Contract number

2000

2001

2002

2003

2004

2005

TOTAL

Granting act (Despacho)

Date of publication in the Diário da República

C206

679 362,74

679 362,74

C211

2 081 867,70

2 081 867,70

245/2002 of 31.12.2001

6.4.2002

C212

1 629 892,00

407 473,00

2 037 365,00

882/2002 of 25.12.2002

12.12.2002

C213

2 265 871,06

541 732,94

701 901,00

3 509 505,00

880/2002 of 25.12.2002

12.12.2002

C214

2 807 604,01

701 901,00

3 509 505,01

880/2002 of 25.12.2002

12.12.2002

C217

1 415 887,71

1 415 887,71

158/2001 of 29.12.2000

16.02.2001

C218

1 415 887,71

1 415 887,71

158/2001 of 29.12.2000

16.02.2001

C219

1 425 998,34

1 425 998,34

158/2001 of 29.12.2000

16.2.2001

C220

1 425 998,34

1 425 998,34

158/2001 of 29.12.2000

16.2.2001

C221

1 140 802,66

276 446,76

8 753,90

1 426 003,32

810/2000 of 25.7.2000

5.8.2000

C222

1 426 003,33

1 426 003,33

244/2002 of 31.12.2001

6.4.2002

C223

1 425 999,00

1 425 999,00

881/2002 of 25.11.2002

12.12.2002

C224

2 140 220,00

535 055,00

2 675 275,00

879/2002 of 25.11.2002

12.12.2002

C225

2 140 220,00

535 055,00

2 675 275,00

879/2002 of 25.11.2002

12.12.2002

1 820 165,40

5 960 218,86

11 645 991,00

5 229 645,94

1 403 802,00

1 070 110,00

27 129 933,20