State to stop EC block on €530m investment

THE Government will make an attempt to stop the European Commission from blocking a €530 million investment by US pharmaceutical company in Cork.

The Commission is set to block the IDA from giving a grant, worth around €50 million, to Centocor, which is planning a new facility in Ringaskiddy employing more than 300 people.

Centocor, part of the Johnson & Johnson group, will not press on with the expansion of its Cork business without the aide form the IDA, according to weekend reports.