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03/28/2024 04:57:38 am

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China Admonishes Scotland over Collapsed $12.4 Billion Deal

A $12.4 billion agreement between Scotland and Chinese firms SinoFortone Group and China Railway No. 3 Engineering Group (CR3) has been called off.

(Photo : DanKitwood/GettyImages) A $12.4 billion agreement between Scotland and Chinese firms SinoFortone Group and China Railway No. 3 Engineering Group (CR3) has been called off.

A deal signed between Scotland and China has apparently been called off. Both parties have exchanged blame over the collapsed $12.4 billion deal. The agreement was signed by Scotland with SinoFortone Group and China Railway No. 3 Engineering Group (CR3). The opposition parties in Scotland had raised concerns about the collaboration.

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After less than five months of signing the deal, both Chinese companies signaled their withdrawal from the agreement through an email on August 15. However, the news of collapse of the deal remained under the cover until now.

A spokesman for the cabinet secretary for the economy, jobs and fair work, Keith Brown said, "We are sorry if the partners consider the MoU to be cancelled and we remain open to working together on projects in the future."

The failed deal has also caused a massive rift between various parties in Scotland. The Liberal Democrats have asked the Scottish ministers to clarify the situation. Liberal Democrats, along with Labour and Amnesty International, had called out CR3 for alleged human rights violations in Democratic Republic of Congo.

It is reported that deal has been labelled as the "Scottish shambles" in China. The opposition parties in Scotland have accused the government of keeping secrets.

A labour economy spokeswoman accused the government of changing the information about the pact. She also added that government should come clean on the matter and provide full details.

The Scottish government spokesman said that opposition parties have done "Scotland down." However, Liberal Democrat leader Willie Rennie said that it is the Scottish government that should be "ashamed."

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