Mon, 18 Apr 2022 - 03:15 GMT
Mon, 18 Apr 2022 - 03:15 GMT
CAIRO – 18 April 2022: The Ministry of Petroleum and Mineral Resources has finished 60 percent of the plan targeting to double the number of natural gas stations by the end of 2022 so they would become 1,000 up from 530.
The ministry noted that the number of gas-powered vehicles in Egypt rose to 500,000 by January, and that is why the plan also targets to make those available in all governorates and on the highways.
Figures released earlier show that the number of cars transformed to become gas powered in 2021 is 66,000, which is higher than the 2020 figure by 71 percent. As for the monthly average amount of natural gas sold to power vehicles in 2021, it is 72 million cubic meters against 52 million cubic meters in 2020 with a rise of 38 percent.
In FY2020/2021, Egypt's production of natural gas recorded 66.2 billion cubic meters, ranking 14th globally and fifth in Africa. Hence, it is very viable to the government to promote gas-powered vehicles, as that would reduce the bill of gasoline imports given that the country achieved self-sufficiency of the former but not the latter.
In parallel to encouraging citizens to transform their gasoline-powered vehicles, the government works on introducing electric vehicles within its bid to promote green transportation.
Prime Minister Mostafa Madbouli checked in December the model of an electric car produced by General Motors, and is expected to be offered in the Egyptian market in 2022.
The prime minister told the representatives of General Motors, and its agent in Egypt, Mansour Group, that the government can promote the sales of the car through various programs and initiatives, and through a number of incentives and exemptions granted to consumers.
Madbouli urged the two companies to prepare a detailed plan on the manufacturing of the car in Egypt so that the government takes the necessary support steps.
The prime minister had held a meeting with them earlier with the attendance of Minister of Finance Mohamed Mait, and Minister of Industry and Trade Nevine Gamea.
During the meeting, CEO of Al Mansour Group Ankush Arora presented a proposal to launch the manufacturing of electric cars in Egypt, which is a goal the government has been working on along with the localization of electric automotive feeding industries.
The CEO of Al Mansour Group also displayed the company's vision on the factors it perceives as essential for the success of the electrical cars market in Egypt, as those are similar to the incentives adopted in many other countries.
In November, the prime minister met with the CEOs of General Motors and Mansour Group, who said they would begin selecting the features of the electric car to be offered in the Egyptian market.
They also noted that the company is willing to invest around $35 million in Egypt by 2025.