The Ho Chi Minh City People’s Committee has decided to increase the charter capital of the Ho Chi Minh City Urban Railways No. 1 Company Limited (HURC1), which manages the Metro Line No. 1, to VND268 billion ($11.16 million) from the initial VND14 billion ($58,300).

The capital increase is aimed at ensuring the company maintains stable operations and is able to receive technical and technology transfer.

Metro Line No. 1, which runs for 19.7 km between Ben Thanh Station in District 1 and Suoi Tien Depot in Thu Duc city, has 14 stations, including eleven elevated and three underground.

Over 96 per cent of work has been completed, with the remainder expected to be completed by the end of the year.

The line is scheduled to open to passengers next July.

It has total investment of over VND43.7 trillion ($1.82 billion).