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FINANCIAL NEWS
Saudi Arabia terminates USD201m high-speed train contract
16 Jul 2015
(MENAFN) Saudi Arabia announced terminating a USD201 million contract for six high-speed trains it granted to the Spanish train maker Talgo in February, Reuters reported.
The company did not specify any clear reason for the termination but asserted that the move will not hinder nor harm its performance for the upcoming two years.
Talgo, the Spanish manufacturer of intercity, standard, and high speed passenger trains, was supposed to undertake the construction and development procedures for the project.
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