Prolonged delay sees HCMC metro operator run out of funds

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A train car for the HCMC's metro line No.1 arrives in the city from Japan in 2021. Photo by VnExpress/Gia Minh

 

Ho Chi Minh City should ask for supplementary funding from the central government to support the operator of its first metro line, the Ministry of Planning and Investment said.

 

A wholly state-owned firm, HCMC Urban Railway Company No. 1 (HURC1), the operator of HCMC’s metro line No. 1, has run out of funds, the city confirmed in February.

 

HURC1 came into life in 2015 based on the initial plan for the metro line to be up and running within 2018. At the time of its establishment, the company was granted charter capital of VND14 billion ($$613,000) to purchase office equipment and no operating budget.

 

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