The agency will own their trains and signalling systems.
The Land Transport Authority will take over the operating assets, including trains and signalling systems, of the North East Line (NEL), Sengkang LRT and Punggol LRT (SPLRT) which is estimated to worth $30.8m.
This is following the conclusion to transfer the lines under the LTA’s New Rail Financing Framework (NRFF). NEL and SPLRT will transfer to the NRFF on 1 April 2018.
SBST Ltd., who ran NEL and SPLRT, will be granted a 15-year licence to operate the lines until 31 March 2033. However, they will have to pay the LTA a licence charge to be allowed to operate the lines.
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