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Thursday, 7 November 2019

SME Authority to provide EGP 800 mn to convert 10k car engines to natgas

The SME Development Authority is doling out EGP 800 mn to the Natural Gas Vehicles Company (Cargas) and Gastec to finance the conversion of 10k cars to run on natural gas, Al Mal reported. The government is planning to have at least 50k car owners install dual-fuel natgas/gasoline engines, requiring no down payments and offering flexible, simplified payment terms. Some 33k vehicles in Egypt converted to natural gas in 2018.

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