The joint venture between SBS Transit Rail and a subsidiary of French public transport operator RATP Dev has won the contract for the Jurong Region Line in Singapore, beating out SMRT Trains. The $558 million service fee quoted by the joint venture is about 8% lower than what SMRT Trains offered. RATP Dev Asia Pacific, the local subsidiary, will focus on building local capabilities in rail operations and maintenance.
The joint venture - between SBS Transit Rail and a subsidiary of French public transport operator RATP Dev - beat SMRT Trains to win the contract for Jurong Region Line .New: You can now listen to articles.RATP Dev Asia Pacific is the subsidiary of French public transport operator RATP Dev.
The joint venture, known as SRJV, has"committed to use the experience of RATP Dev to build local capabilities in rail operations and maintenance", it added in the media release. Singapore's two current rail operators were invited to bid, while foreign operators could participate through joint ventures with local operators, as minority partners with less than 25 per cent in shareholding.
Both tenderers submitted"strong quality proposals" which demonstrated their ability to operate and maintain the JRL while bringing"added value to commuters and enhanced resilience for the rail industry". Phase 1 of the CRL - Singapore’s eighth MRT line - comprises 12 stations, with construction works targeted to be completed by 2030.Due to uncertainties in ridership and fare revenue during the initial years of operation for new lines, the government will bear the fare revenue risk during the first licensing period of the JRL.
JRL Joint Venture SBS Transit Rail RATP Dev SMRT Trains Jurong Region Line Singapore Public Transport
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