Petroleum Africa
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Wednesday, November 18, 2020
Abdel Fattah Farahat, the Chairman of the Egyptian International Gas Technology (Gastec) company, has signed a contract which will see funding to convert vehicles to run on dual fuel (natural gas/octane) with the Micro, Small and Medium Enterprises Development Agency (MSMEDA). The deal is reportedly worth EGP 10 million, according to a statement issued by Gastec on its Facebook page.
According to Gastec, this financing phase from MSMEDA will go toward the conversion of approximately 1,250 cars which will provide job opportunities across the country. This deal falls under a phased program and is the third phase where in total the conversion of 5,000 cars was targeted at a cost of around 40 million EGP.
Gastec stated that this program to convert to natural gas vehicles (NGVs) will contribute to implementing the state’s strategy to rationalize energy consumption and reduce the usage of liquified fuels.
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