AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The governmental institutions KUKE and Bank Gospodarstwa Krajowego approved funding which has a total value of EUR 14.532 million (USD 15.45 million). The loan supports an export contract awarded to the Polish company PMG SA (Famur Group) to supply mining machinery to the Russian company ZAO Shahtoupravlyene Taldinskoe-Kyrgajskoe. More specifically the Polish company will supply: "powered support sections, a longwall searer, a face conveyor, beam stage loaders, along with an advancement system, accompanied by assembly training, supervision and checking, inclusive of works connected with the installation and deployment of equipment for exploitation."
The funding consists of 70% of the total value of the export contract and has a repayment period of five years. The financial transaction was announced in a press release on 19 January 2017.
The GTA includes state guarantees, loans and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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