Micro, Small and Medium Enterprise Development Agency (MSMEDA) has funded the Natural Gas Vehicles Company (Car Gas) with an EGP 10 million contract for a new phase of converting 2,000 cars to run on both natural gas and gasoline, according to a statement.

The agreement was signed by Hisham El Safty, Chairman and Managing Director of Car Gas; and Raafat Abbas, Head of Non-Financial Services Central Sector at MSMEDA. The agreement comes in line with the state’s framework towards easing the burdens on citizens in all fields, in addition to funding strategic social, economic and environmental projects, especially in the field of converting cars to work with natural gas. 

Nevine Gamea, Minister of Trade and Industry; and the Managing Director of MSMED, noted that the agency has previously contributed to converting 38,400 cars with a total funding of EGP 202 million. Gamea added that the agency is committed to the state’s directives in implementing all of its development tasks and projects despite the current circumstances.