KUALA LUMPUR (Oct 21): Prasarana Malaysia Bhd, the country's public transport asset owner and operator, has spent some RM1 billion to replace its light rail vehicles (LRV), according to Group Managing Director Datuk Seri Shahril Mokhtar.

Shahril said Prasarana had purchased 30 units of six-car LRVs on a trade-in basis, for RM370 million. The LRV's are in addition to 20 LRV sets for RM620 million, Shahril said.

"The purchase of new trains was made in two stages. The first stage involved 20 sets that cost us RM620 million, and the second stage is for 30 six-car trains worth RM370 million.

"Altogether, our purchase consideration totalled nearly RM1 billion," he told reporters after signing an agreement with China-based train manufacturer CSR Zhuzhou Electric Locomotive Co Ltd.

Under the agreement, the new trains will be delivered in phases, beginning December this year.

Shahril said the new LRVs would replace its old fleet, some of which are 15 years old.

"The structure of the deal is such that we will dispose our old fleet to CSR Zhuzhou, on a trade-in basis. This, at the same time, reduces our purchase amount to its current value and cost.

"Without such arrangement, the purchase cost will definitely be higher," he said.