The Chairman and Managing Director of Town Gas, Yasser Bahnas, said that the company has achieved unprecedented results during 2019 for the second year in a row, in which natural gas was connected to 300,000 housing units with investments worth EGP 1.2 billion, Al-Ahram Gate reported.
With the new investments, the company succeeded to save seven million butane cylinders and reduced the directed subsidy to the cylinders in addition to connecting natural gas to new areas.
Bahnas added that the company had finished implementing 550 projects for natural gas connection in the housing compounds, industrial entities, commercial malls as well as the Ministry of Defense and Ministry of Interior with costs of EGP 250 million.
Additionally, several protocols were signed with the New Urban Communities Authority to link natural gas to 105,000 customers at a cost of EGP 243 million.
He noted that Town Gas is targeting to link natural gas to 300,000 housing units in 2020 with investments cost of EGP 200 million to cover 31 new areas that do not have natural gas, which include areas in the governorates of Cairo, Alexandria, Portsaid, and Ismailia.
Bahnas remarks came during the general assembly of Town Gas, which was attended by the Chairman of the Egyptian Natural Gas Holding Company (EGAS), Osama El Bakly; the CEO of the Egyptian General Petroleum Corporation (EGPC), Abed Ezz El Regal and other senior official in the petroleum sector.