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The Oscar winner was to reteam with his Man On Fire director Tony Scott on the movie, but reportedly declined to reduce his $20 million by $4 million to help the studio trim the budget, says Variety.
Mark Bomback's Unstoppable script centres on an engineer who teams up with a young conductor to stop a runaway train filled with deadly chemicals. Fox had signed up Star Trek's Chris Pine to appear opposite Washington.
Washington and Scott's new film, The Taking Of Pelham 123, opens in UK cinemas on July 31.
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