Merseyside's ageing fleet of trains is set to be replaced at a cost of around £300m.

Merseytravel has been looking at ways to replace the Merseyrail fleet for some time and recently asked manufacturers worldwide for an estimate of how much it would cost.

The transport authority is now seeking an executive to oversee the major project.

This search, being carried out by a firm of head-hunters - formally kick-starts the scheme that should see new trains running by 2017.

It is estimated the cost of the new trains will be between £300m and £350m.

It is anticipated the formal tendering process will begin later this summer.

The current fleet of class 507 and 508 trains were built in the late 1970s and despite a full overhaul programme that began a decade ago, both the expected lifespan of the trains and the current leasing arrangements, are set to expire over the next six years.

Councillor Mark Dowd, Merseytravel chairman, said: “The rolling stock replacement project will be one of the most significant schemes undertaken by Merseytravel over the next few years, with consequences that will extend for decades.

“Getting the right person to oversee the project and creating the right project governance arrangements are the first priorities on the way to successful delivery of new trains for Wirral and Northern Line passengers.”