The Egyptian government’s Small and Medium Enterprises Development Authority (SMEDA) has signed a contract worth EGP 10m (approx. USD 0.564m) with Natural Gas Vehicles Company (Cargas), to finance a vehicle conversion project.
Egyptian news source ‘Daily News’ says the contract aims at converting 2000 cars to natural gas. Cargas, an affiliated company to the Egyptian Ministry of Petroleum, aims to convert cars to bi-fuel operation, able to run on Compressed Natural Gas (CNG) or gasoline.
According to Nevine Al Gamea, executive director of SMEDA, the authority has already converted 24,500 cars (20,800 taxis – 3700 private cars). She added that SMEDA is keen to implement strategic projects with a social and environmental dimension that aim to reduce pollution and preserve the environment, at the same time easing the conditions for citizens through the price difference, and maintaining employment opportunities for those who are working in the transportation sector.
According to Tarek El Degwy, chairperson of Cargas, the conversion economics are very effective for citizens.