SMRT to transfer its trains and rail assets to Singapore government

SMRT Corporation Limited’s trains and SMRT light rail have completed the S$1 billion sale of their operating assets to the Land Transport Authority (LTA), Singapore, in accordance with the New Rail Financing Framework (NRFF). As per the NRFF, SMRT will pay an annual licence fee to the LTA for the right to operate the lines for 15 years starting October 1, 2016. SMRT assets transferred include the North-South and East-West Lines, the Circle line and the Bukit Panjang LRT along with the 60,000 operating assets, which include the trains, signalling system and maintenance equipment.