Singapore plans to invest S$60 billion ($44 billion) over the next decade to double its suburban rail network to cope with the city-state's growing population, prime minister Lee Hsien Loong said on Sunday.  
The move comes as Singapore is expected to post economic growth of between 13-15% this year, which would be the among the highest in the world. 
"We are investing enormously in our rail network, in fact over the next decade we are going to spend S$60 billion and we are going to double the rail network," Lee said in an address to the nation.      
Singapore is home to around 5 million people and has seen the population growing by nearly one million from a decade ago.    Its rail network, which serves about two million commuters daily, is currently run by two operators -- SMRT Corporation  and SBS Transit.