Poland will give IUD USD 50 mln in subsidies to renovate Gdansk shipyard

The Polish government announced yesterday that it will grant the Industrial Union of Donbas PLN 150 mln (about USD 50 mln) in state subsidies to help renovate the Gdansk shipyard, conditional on settling aid from the European Union, preserving the plant’s workforce and production levels. IUD acquired an 86% stake in Gdansk shipyard in November 2007.