Gastec signs EGP 10m contract for NGV conversion
23 November 2020
Abdel Fattah Farahat, the Chairman of the Egyptian International Gas Technology (Gastec), has signed a contract for funding cars’ conversion to run on dual fuel (natural gas/octane) with the Micro, Small and Medium Enterprises Development Agency (MSMEDA) worth EGP 10M, a statement issued by Gastec reported.
According to the company, this financing phase from MSMEDA is targeting to convert around 1,250 cars which will provide job opportunities across the country’s governorates. The company noted that this is the third phase of the total funding contract worth EGP 40M targeting the conversion of 5,000 cars.
Gastec elaborated that this fruitful cooperation in the conversion to natural gas vehicles (NGVs) will contribute to implementing the state’s strategy to rationalize energy consumption and reduce the usage of liquified fuels.
This contract comes in line with the national initiative for expanding natural gas utilization as fuel for vehicles which provides economic advantages and highly efficient operations for people and the environment.