SINGAPORE (Reuters) - Singapore's Land Transport Authority (LTA) will take over the ownership of the country's metro rail system from main operator SMRT Corporation Ltd, including assets such as trains and signalling systems, it said on Friday.
Singapore's rapidly expanding Mass Rapid Transit (MRT) lines, run by SMRT Corporation Ltd and SBS Transit Ltd, have suffered a series of breakdowns in recent months, leaving thousands of commuters stranded each time.
Private rail operators licensed by LTA, Singapore's transport regulator, will continue to run the rail services, it said.
Rail operators, relieved of heavy capital expenditure, can focus on providing reliable and well-maintained rail services for commuters, it said.
The announcement comes after news that Singapore was returning 26 of its metro trains to Chinese train maker CRRC Corp for repair just three years after they were delivered.
(Reporting By Aradhana Aravindan; Editing by Christian Schmollinger)
