92002E1827

WRITTEN QUESTION E-1827/02

by Luis Berenguer Fuster (PSE) to the Commission

(27 June 2002)

Subject: State aid procedure initiated for Terra Mítica pursuant to Article 88(2)

The autonomous government of Valencia has authorised the regional ministry of finance to endorse a new loan of EUR 145 million for the Alicante Theme Park Company, which brings the total sum of loans given to the company to ESP 556 million, the majority of which has been earmarked for Terra Mítica, and the remainder for the Ciudad de la Luz project, both of which are linked to a certain extent.

There are also reports that Terra Mítica has not been paying the interest on the loans granted to the Theme Park Company, which had been endorsed by the Valencia government.

Is the Commission aware of these facts? If so, are they likely to have repercussions on the state aid procedure for Terra Mítica?

Answer given by Mr Monti on behalf of the Commission

(12 August 2002)

The Commission was not aware of the information referred to by the Honourable Member.

It would point out that the guarantee allegedly granted by the Generalitat Valenciana to Sociedad Parque Temático de Alicante for a new loan of EUR 145 million that it is reported as having contracted cannot in itself constitute state aid since Sociedad Parque Temático de Alicante is not engaged in any commercial activity. By contrast, any additional financial assistance that Sociedad Parque Temático de Alicante may have been in a position to grant to Terra Mítica on the back of its guaranteed loan might contain elements of aid within the meaning of Article 87(1) of the Treaty. The Commission will therefore contact the Spanish authorities in order to check this information and, if it turns out to be well founded, will ask them whether additional financial assistance has been provided to Terra Mitica by Sociedad Parque Temático de Alicante.

As already indicated to the Honourable Member(1), the Commission takes the view that the Terra Mítica and Ciudad de la Luz projects are separate projects.

The Commission will also write to the Spanish authorities in order to ascertain whether, as reported, Terra Mítica is not paying any interest on the loan granted by Sociedad Parque Temático de Alicante.

The Commission will be certain to inform the Honourable Member direct of its findings as regards the two aspects of his question. It would note that the question raises the possibility of additional unlawful aid having been granted to Terra Mítica. It will treat this aid as a separate case from that in respect of which a formal investigation had previously been initiated under Article 88(2) of the EC Treaty(2) and on which the Commission adopted a final decision (absence of aid and compatible aid) on 2 August 2002.

(1) Letter from Mr Monti dated 5 February 2002.

(2) OJ C 300, 26.10.2001.