President Abdel Fattah al-Sisi inaugurated GO Green, the first exhibition for vehicle replacement and conversion technologies, within the presidential program to convert vehicles to run on natural gas. The expo displayed converted vehicles, as well as factory-fitted CNG cars. It also featured a special pavilion for responding to inquiries about the program.
This initiative targets a total number of 250,000 old vehicles to be replaced with natural gas powered ones: 70,000 in the first year (55,000 private cars and taxis and 15,000 microbuses), 90,000 vehicles in the second year and 90,000 in the third year.
“The national program for vehicle replacement and conversion aims to reduce pollution, scale back fuel subsidies in the state’s budget, encourage the auto sector and its feeding industries, as well as improve the living standards of citizens,” said Minister of Trade and Industry Nevine Gamea.
During the exhibition, cooperation agreements were signed between the Small and Medium Enterprises Development Authority (SMEDA) and Cargas and Gastec to provide a financing package of nearly U$S13 million for the implementation of the initiative, as well as a Memorandum of Understanding between the Ministry of Trade and Industry and Nissan Motors Egypt to develop a promotion program for exports of locally manufactured cars.
In addition to 30 vehicle manufacturers, nine banks participated in the fair with special pavilions presenting the financing schemes available under the program.
“The presidential initiative to replace and convert vehicles to run on clean energy has drawn great interest from the public and a large turnout at the Go Green exhibition,” added Gamea at a press conference during the closing of the expo. Over the three days of the event, 20,000 people registered on the program’s website.
Source: Ministry of Trade and Industry