BEIJING: China’s largest train manufacturer won a billion-dollar deal to supply Chicago with rolling stock, it announced on Friday, as Beijing seeks to create high-tech firms capable of competing for lucrative contracts with foreign giants.
CRRC corporation, the result of a 2014 merger between two state-owned firms and the largest train maker in the world by revenue, signed a $1.3-billion contract to manufacture 846 subway carriages for the Midwestern US city, replacing around half its fleet.
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