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Sisi opens Egypt’s first vehicle conversion fair
4 January 2021  -  Sector :  -  Entity :  -  Category : General

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The expo displays models of converted vehicles, as well as new ones that use clean energy. It also features a special pavilion for responding to inquiries about the program.

 Cairo- Jan 4, 2021

 

President Abdel Fattah al-Sisi inaugurated today the first exhibition for vehicle replacement and conversion technologies, within the presidential initiative to convert vehicles to run on clean energy.


“The national program for vehicle replacement and conversion aims to reduce pollution, scale back fuel subsidies in the state’s budget, encourage the auto sector and its feeding industries, as well as improve the living standards of citizens,” Minister of Trade and Industry Nevine Gamea said.

The program, she noted, targets a total number of 250,000 old vehicles to be replaced during the first phase, that is 70,000 in the first year and 90,000 in the second and third years each; in addition to the conversion of 55,000 private cars and taxis, and 15,000 microbuses to operate on natural gas.

Gamea pointed out that the expo displays models of converted vehicles, as well as new ones that use clean energy. It also features a special pavilion for responding to the public’s inquiries about the program.

She added that cooperation agreements will be signed, during the exhibition, between the Small and Medium Enterprises Development Authority and the companies of Cargas and Gastec to provide a financing package of EGP 200 million for the implementation of the initiative, as well as an MoU between the Ministry of Trade and Industry and Nissan Motors Egypt to develop a promotion program for exports of locally manufactured cars.

In addition to 30 dual-fuel vehicle manufacturers, nine banks are participating in the fair with special pavilions to present the financing schemes available under the program, the minister further noted.

 

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