Egypt to Mandate NGVs



Egypt to Mandate NGVs
Egypt will require new cars to operate on natural gas before they receive a license, according to the country's president.

(Bloomberg) -- Egypt will require new cars to operate on natural gas before they receive a license, President Abdel-Fattah El-Sisi said, stressing the move will help reduce middle-income families’ fuel bills by half.

El-Sisi, speaking Sunday during the inauguration of a national project, said converting 1 million vehicles in Egypt to natural gas will cost a total of about 8 billion pounds ($500 million). In comments carried by local media, he urged banks to provide lower interest financing to help consumers fund the conversion to natural gas.

The move is part of a broader push by the government to encourage the conversion of as many as 1.3 million private cars. The main focus is vehicles over 20 years old.

To contact the reporter on this story:

Tarek El-Tablawy in Cairo at teltablawy@bloomberg.net

To contact the editors responsible for this story:
Nayla Razzouk at nrazzouk2@bloomberg.net
Michael Gunn, Shaji Mathew

© 2020 Bloomberg L.P.



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