Chinese Company Pulls Out of €610 Million Bulgarian Train Tender
- Commissioner says withdrawal shows economic security push
- China Chamber of Commerce criticizes EU subsidy regulation
Technicians debug trains at a workshop of CRRC Qingdao Sifang Co., Ltd. in Qingdao, east China's Shandong Province.
Photographer: Li Ziheng/Xinhua News Agency/Getty ImagesThis article is for subscribers only.
A Chinese company abandoned a €610 million ($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.