The Ben Thanh-Suoi Tien urban railway line in HCM City. (Source: VNA)

Of the funding, 16.35 billion USD is required for the 2026 - 2030 period, and another 24.04 billion USD for 2031 - 2035.

The proposal, submitted to the municipal People's Council on December 10, is based on the municipal People's Committee's updates of the local transport development plan.

Accordingly, the seven railway lines are expected to help public passenger transport meet 40 - 50% of the commuting demand in the city.

About 152km of the 355km will be underground and 203km above the ground, along with 258 stations and 12 depots.

The People's Committee aims to start construction in 2027, with 2028 at the latest, to complete the seven routes by 2035.

By 2045, the city targets to have an additional 155km with three more railways added, extending the total length to 510km so that public passenger transport meets 50 - 60% of the demand.

The People's Committee plans to increase the length of underground stretches to reduce compensation and resettlement costs, accelerate construction progress, and enhance the effectiveness of underground space utilisation, while also restructuring and renovating existing urban areas.