Leading Chinese rail equipment maker CRRC Corp learned over the past few days that its bid to supply rail cars to New York’s subway operator has been eliminated from competition, Caixin reported Wednesday, citing a knowledgeable source.

The deal, worth US$3.2 billion would have been the biggest overseas subway car deal for CRRC to date. The firm has won a string of deals in other US cities, including a US$1.3 billion deal for Chicago.

“CRRC is extremely disappointed to lose this project,” the source told Caixin.