Egypt to launch vehicle replacement initiative before March-end, minister

Egypt’s plans to replace obsolete cars manufactured 20 years or more with locally-manufactured ones operating on natural gas will start before the end of March according to the Minister of Finance, Mohamed Maait.

The green car incentive will cost the country 7.1 billion pounds in the first phase of the initiative to replace 250,000 old cars with natural-gas-powered ones in Cairo, Giza, Qaliubiya, Alexandria, Suez, Red sea, and Port Said, he noted.

A protocol regulating the measures for implementing the initiative will be signed between the concerned ministries, car manufacturers, and insurance companies, Maait added

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