Subway operator invests S$195m on upgrades

Singapore’s main subway operator, SMRT Corporation Ltd, whose chief executive resigned last month after train breakdowns, said it is investing S$195 million ($155 million) to upgrade its signal system on one of its train lines.

The project, which will be completed by 2018, will make it possible for trains on its North-South and East-West lines to run at an improved frequency of 100 seconds, down from the current 120 seconds, the company said in a statement on Wednesday.

Singapore’s multiple train breakdowns have become a political hot potato for the government as the country, one of the world’s most densely populated, discourages car ownership through hefty taxes, leaving most commuters to rely on the subway.

SMRT is a unit of Singapore state investor Temasek Holdings Pte Ltd

On Wednesday, SMRT shares closed at S$1.73, their lowest level since late September.

http://www.reuters.com/article/2012/02/01/smrt-idUSL4E8D157720120201

 

Category: Singapore