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,
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.