MSMEDA Finances Car Conversion to CNG

MSMEDA Finances Car Conversion to CNG

The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has signed two agreements with Natural Gas Vehicles Company (Car gas) and the Egyptian International Gas Technology Co. (Gastec), totaling EGP 80 million, in order to convert cars to run on compressed natural gas (CNG) instead of gasoline.

MSMEDA’s Executive Director, Nevine Gamea, witnessed the signing, under the patronage of the Egyptian Prime Minister, Mustafa Madbouly, El Ahram Gate reported.

Gamea clarified that the agreements are part of the “Towards Natural Gas” initiative, pointing out that MSMEDA has already converted 34,400 cars (28,000 taxis, 6,400 privately owned), totaling EGP 172 million in financing.


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