Dubai, Sept 24th, 2007 (WAM) -- Nakheel today finalised the appointment of SMRT Engineering Pte Ltd (SMRTE), a wholly-owned subsidiary of SMRT Corporation Ltd (SMRT), to commence preparation for the operation of The Palm Jumeirah's Dh 1.4 billion monorail.

The mobilisation contract will see SMRTE evaluating and defining the operational procedures as well as recruiting and training staff for the smooth and efficient operation of The Palm Monorail, including the day-to-day running of the service, ticketing, on-going maintenance, and operation of the monorail's four stations.

The Palm Monorail is the first monorail to be constructed in the Middle East and it is being developed by a consortium of leading international companies led by the Marubeni Corporation. The monorail is a Hitachi-based system with 5.45km fully elevated, double tracked system with four stations. As of July 2007, Nakheel has laid more than 90% of the 5.45km track. Construction work, which began in March 2006, is scheduled to be completed in November 2008 to coincide with the opening of Atlantis, The Palm Jumeirah.

The Palm Monorail project is fully automatic and driverless, although an attendant will be on board at all times. The monorail will initially carry up to 2,400 passengers per hour per direction in four separate trains, each made up of three cars. At full capacity, the figure will rise to a maximum of 6,000 people in nine vehicles.

Robert Lee, Nakheel Executive Director, Investment Projects said: "The Palm Monorail will not only be the first such system to be completed in the region, but also promises to be a global benchmark for the transportation industry. Whether it's the driverless system, running approximately 1,000m of rail over-sea, meeting Dubai's unique climatic conditions or ensuring the running of the monorail is virtually silent, The Palm Monorail is employing state-of-the-art technology." 'We are therefore delighted with the appointment of SMRTE, which will ensure the day-to-day running of the system mirrors the world-class engineering employed in its creation. We considered a number of leading international operators for this contract and the competition was very strong, but SMRT's experience in developing and managing large scale, modern public transport systems, as well as a first class safety record, meant they were ideally suited to this role.' Saw Phaik Hwa, President and CEO, SMRT Corporation Ltd: said 'We are honoured to partner Nakheel, Dubai's premier developer of prime properties, in this iconic development. The Palm Jumeirah is in a league of its own and the first of many more prestigious developments to come.

This partnership with Nakheel brings together two forward-looking organisations that share a vision for excellence, which is also the hallmark of SMRT's success. We bring to the partnership over 20 years of engineering expertise as well as experience in operating and maintaining a leading metro system anchored on the highest standards of reliability, safety and efficiency. Given our track record, we are confident of delivering a premier monorail system befitting of a world-class development.' SMRTE was awarded the contract through a competitive tender called by Nakheel. There were a total of four international submissions, which were reviewed over a three month period. The review was led by Nakheel's Monorail team, assisted by third party consultants.