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Egypt's SMEs Development Agency allocates EGP 75m to convert 9,500 cars to natural gas Vehicle owners can pay for conversion in instalments over 1-5 years
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has allocated EGP 75m to convert 9,500 vehicles to natural gas. The finance was used to convert the vehicles during the first quarter (Q1) of 2021. She also confirmed the continued cooperation between MSMEDA and the Ministry of Petroleum and Mineral Resources, represented by the Natural Gas Vehicles Company (CarGas) and GasTec. This cooperation is taking place in order to implement the presidential programme for converting cars to natural gas capabilities. Nevine Gamea, Egypt's Minister of Trade and Industry and Executive Director of MSMEDA, called on citizens and small business owners to convert their vehicles to run on natural gas, and take advantage of the savings in operating expenses achieved by gas consumption. Using gas can create savings of about 55%, which helps users benefit from the difference in meeting other project needs. Gamea explained that workers in the transportation and mass transit sectors, including taxis, passenger cars, and microbuses, will also benefit from the savings that gas consumption brings. This will ensure that not only will they spend less of their income on petrol, but they will also be able to avoid the high petrol prices. Raafat Abbas, Head of the Central Sector for Non-Financial Services at MSMEDA, stressed that there is a strong demand towards converting cars to work with dual fuel. This comes especially in the context of the savings resulting from the conversion, in addition to the simple cost of the conversion. Vehicle owners can pay for the conversion in instalments over one to five years, while the conversion process itself takes less than four hours.
