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THE sale of the operating assets by SMRT Trains and SMRT Light Rail to the Land Transport Authority (LTA) in connection with the New Rail Financing Framework (NRFF) was completed on Friday.
SMRT Trains and SMRT Light Rail have surrendered the existing licences and LTA has granted to SMRT Trains the NRFF licence commencing on Oct 1 to operate the lines for an initial term of 15 years from the start date.
"SMRT Trains, SMRT Light Rail and LTA have also executed various other documents in connection with the surrender of the existing licences and completion of the sale," said SMRT in a filing to the Singapore Exchange (SGX).