I've been thinking ( oh god! ) about the permit situation, and the complexity/dis-jointed bureaucracy in VZ. I'm wondering if that could be the problem, and that China could be holding off until the documents that allow the permit to be issued, are sitting on someones desk, ready to handed over. The cost of putting this JV together must be huge, and CRRC may not be willing to continue to shell out the big bucks, until such time as the permit is actually ready to hand over.

The Chinese are very efficient, and I just can't see them holding this up due to paper work. We are almost at 4 months since the original signing. The pace of VZ seems to me to be a more logical reason why this is taking so long.....IMO anyway.

Pen