Mar 27, 2024 02:46 PM
BUSINESS
Chinese Company Pulls Out of 610 Million Euro Bulgarian Train Tender
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CRRC trains sit at a factory in Qingdao, East China’s Shandong province, in December 2017. Photo: VCG
(Bloomberg) — A Chinese company abandoned a 610 million euro ($660 million) Bulgarian railway tender after a probe of the deal was opened by European Union regulators, who hailed the withdrawal as a boost to economic security.
CRRC Qingdao Sifang Locomotive Co. Ltd. withdrew from the invitation to supply and maintain 20 electric trains, the European Commission said in a statement, citing Bulgarian officials.
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