MSMEDA finances conversion of 9,500 cars to run on natural gas in Q1-21

The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) financed the conversion of 9,500 cars to run on natural gas with 75 million Egyptian pounds in the first quarter (Q1) of 2021 in collaboration with Cargas and Gastec, the Executive Director of MSMEDA, Nevine Gamea, said.

The agency continues to cooperate with the Ministry of Petroleum and Mineral Resources to implement the presidential program for converting vehicles to operate on natural gas with the aim of cutting operating costs and reducing air pollution, Gamea added in a statement on Tuesday.

Replacing gasoline with natural gas will save vehicle owners about 55% of operating costs, Gamea noted.

Car owners can convert their vehicles at Cargas and Gastec stations and pay in instalments over one to five years.