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IBM to receive 21 million euros state-aid for Romania investment: report

A worker is pictured behind a logo at the IBM stand on the CeBIT computer fair in Hanover February 26, 2011. REUTERS/Tobias Schwarz
A worker is pictured behind a logo at the IBM stand on the CeBIT computer fair in Hanover February 26, 2011. REUTERS/Tobias Schwarz

BUCHAREST (Reuters) - IBM, the world's largest technology services company, will receive 21 million euros ($27.86 million) state-aid from the Romanian government for investment that will generate 900 jobs, daily Ziarul Financiar reported on Monday.

"IBM Romania will receive 21 million euros to develop an information technology consultancy project in Bucharest and Brasov," the finance ministry said. Under Romanian law, state aid is given for large investments that create new jobs.

The investment project is worth a total 51.2 million euros.

(Reporting by Ioana Patran; Editing by Luiza Ilie)

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