Facebook Twitter 新浪微博 Instagram YouTube Friday, Jun 10, 2016

US Company Terminates High-speed Rail Deal with China Group, Breaches Agreement

(CRI Online)    10:14, June 10, 2016

The U.S. company XpressWest has announced it is terminating its cooperation with China Railway International in building a high-speed rail between Las Vegas and Los Angeles.

Chief executive of Las Vegas-based XpressWest, Tony Marnell, says that his company's ambitions outpace China Railway's ability to move the project forward timely and efficiently.

China Railway says XpressWest is irresponsible in making such a decision while bilateral talks are still on-going.

A China Railway manager says the unilateral announcement also violated the cooperation framework agreement signed by the two sides, which stipulates that one side should not release related information without the approval by the other.

The two companies reached a deal to build the high-speed rail link in September.

The past few months have been a bumpy ride for bilateral negotiations.

China Railway management have said that XpressWest had kept adding new demands in the talks, some of which were unacceptable to the Chinese firm.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Ma Xiaochun,Bianji)

Add your comment

Related reading

We Recommend

Most Viewed


Key Words