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SMRT partners Veolia in bid to operate Melbourne’s train network April 9, 2009

Posted by hafizbam in Uncategorized.
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SINGAPORE: Singapore transport operator SMRT said it is partnering French company Veolia to put in a bid to operate a train network in the Australian city of Melbourne.

In a filing with the Singapore Exchange on Thursday, the company said its unit, SMRT International, has signed an agreement with Vibrant Partnership.

Vibrant is a consortium that will bid to provide services like rail asset management and infrastructure development for the Melbourne Metropolitan Train Franchise.

SMRT added that the agreement will only take effect if Vibrant is successful in its bid.

Estimated revenue from the project is about S$5.4 million annually.

On Thursday, SMRT asked for a trading halt of its shares on the Singapore Exchange pending an announcement.

SMRT has since resumed trading.

At the mid-day break, SMRT shares rose 0.7 per cent to S$1.54.

By Mok Fei Fei, Channel NewsAsia | Posted: 09 April 2009 1622 hrs

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