A Belgian regional government has offered General Motors Corp. (GM) EUR200 million in aid to save the carmaker's plant in Flanders, it said Thursday.

"The Flemish government proposes GM a sale and lease back procedure, which for GM could result in an estimated cash inflow of EUR200 million," it said in a statement.

GM has a plant in Antwerp, where it produces Opel-branded cars, and the Flemish government has been worried that the company might decide to close down the plant as part of a broader European restructuring plan.

The government has already proposed earlier this year to guarantee the financing of new investments for that plant.

-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88; alessandro.torello@dowjones.com