$SBS Transit (S61.SG)$ The New MRT once again won the Hongsh...
$SBS Transit(S61.SG$ The New MRT once again won the Hongshan Bus Package for about 476.45 million yuan; SMRT won the Jurong West Bus Package for 41.53 million yuan, and will take over the supporting management rights from the New MRT by September 2024.
The Land Transport Authority issued a statement on Friday (August 18) announcing that it will issue the operating rights contract for the Hongshan Bus Package to New MRT, while the Jurong West Bus Service Contract will be awarded to SMRT.
The two contracts will last for five years and will gradually take effect from the second quarter of 2024
On November 23, 2022, the Land Transport Authority tendered for the Red Mountain Bus Service and the Jurong West Bus Service. Tender options include operating only one package, or two packages together. A total of six companies bid, including National Express Group from the UK and France's Transdev Group.
The Land Transport Authority said that the tender used a double envelope method to evaluate the bus operators' bids and the quality of service. The statement said that both the new MRT and SMRT have a deep understanding of supporting operations. Not only are bids more competitive, but they also propose plans to improve services and promote environmental sustainability.
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