The European Commission (EC) has opened an in-depth probe into grants awarded by Italy to the Port Authority of Naples.
The EUR 44m ($49m) was used to renovate drydocks rented to Cantieri del Mediterraneo (CAMED), a shipbuilding and shiprepair company, on the basis of a 30-year concession.
The EC's "preliminary" view is that CAMED may have benefited from the grants.
"Indeed, in the absence of a tender for the use of the drydocks, CAMED may use the refurbished facilities to provide shiprepair activities for a price potentially below market rates," it added.
"This
