Bulgaria: The Chinese train maker is the target of an investigation by the European Commission, the results of which are due to be published by 2 July.
The investigation follows a notification submitted by CRRC in January of its intention to participate in the EU-funded tender.
Under Foreign Subsidies Regulation 2023, every company is obliged to notify its public tenders in the EU when the estimated value of the contract exceeds €250 mln and when the company received at least €4 mln in foreign financial contributions from non-EU countries in the last three years.
According to the European Commission, CRRC presents “sufficient indications” that it was granted a foreign subsidy that allowed it to submit the lowest bid. If the investigation proves the case, the company will be excluded from the procurement.
CRRC’s €310 mln offer was twice lower than Talgo’s €622 mln bid. Following these two bids, the 2023 tender was cancelled and re-announced in January.
