Egypt's Mirobus owners to apply for 1st phase of natgas initiative in July

ArabFinance: Microbus owners will be able to apply for the first phase of the governments natgas vehicle swap initiative starting July, Finance Minister Mohamed Maait revealed in a statement.

Maait added that the scheme will initially be rolled out in Cairo, Giza, Qalyubia, Alexandria, Suez, Port Said, and the Red Sea.

He previously noted that the expansion of the natgas transition scheme would include more vehicle owners and more governorates.

The initiative aimed to convert 250,000 cars to run on natural gas by 2023, but it reached a target of more than 450,000 cars.

Furthermore, around 2,300 public buses in Cairo and Alexandria will be converted to run on natural gas at a total cost of EGP 1.2 billion under a joint agreement signed between the ministries of oil, local development and military production as well as the public transport authorities of both cities.

Taqa Arabia, a key player in the coming rollout of natgas infrastructure, just got an EGP 916 million loan from the National Bank of Egypt to help finance the construction of natgas filling stations.