{"id":560723,"date":"2021-03-10T04:14:54","date_gmt":"2021-03-10T04:14:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/its-go-time\/"},"modified":"2021-03-10T04:14:54","modified_gmt":"2021-03-10T04:14:54","slug":"its-go-time","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/its-go-time\/","title":{"rendered":"It\u2019s go time"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Vehicle owners in seven governorates can begin swapping out their old cars for<\/strong><strong> natural gas or dual fuel vehicles before the month is out<\/strong>, with the government planning to launch its ambitious multi-year natgas conversion plan before April, according to <a href=\"http:\/\/bit.ly\/3vclhu3\">a statement<\/a>. The first phase of the program will cover Cairo, Giza, Qalyubia, Alexandria, Suez, Port Said, and the Red Sea governorates. This phase is expected to see 250k old cars taken off the road and outfitted with new engines by the end of 2023, Trade and Industry Minister Nevine Gamea <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a946047f-ec53-4300-942f-165509dbcc68\">previously said<\/a>.<\/p>\n<p><strong>Some 80k individuals had already registered for the scheme as of February<\/strong>, Cabinet spokesperson Nader Saad previously <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c569a8ad-4826-4eb2-92a1-f2f4bf44ff52\">said<\/a> Ala Mas\u2019ouleety\u2019s Ahmed Moussa.<\/p>\n<p><strong>Background:<\/strong> The Sisi administration announced last year the <a href=\"https:\/\/enterprise.press\/hardhats\/feasible-plan-convert-vehicles-natgas-gasoline-national-scale\/\">multi-year plan<\/a> to convert or replace 1.8 mn cars to run on dual-fuel engines, which is expected to cost EGP 320 bn at the program\u2019s completion. The program provides <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c84bb14-792e-4e7f-ac46-1f387cf58529\">EGP 1.2 bn<\/a>-worth of subsidized loans through the Central Bank of Egypt, Trade and Industry Ministry, and MSME Development Agency. The Madbouly Cabinet also signed off on other incentives that will see private vehicle owners <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c569a8ad-4826-4eb2-92a1-f2f4bf44ff52\">get<\/a> up to 10% off of the cost of a new vehicle \u2014 with the ceiling set at EGP 22k \u2014 while taxi and microbus owners will be able to get 20% and 45% off, up to a maximum of 45k and 65k, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vehicle owners in seven governorates can begin swapping out their old cars for natural gas or dual fuel vehicles before the month is out, with the government planning to launch its ambitious multi-year natgas conversion plan before April, according to a statement. The first phase of the program will cover Cairo, Giza, Qalyubia, Alexandria, Suez, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":560724,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7339],"tags":[96,144,72,991],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-abdel-fattah-el-sisi","tag-automotive","tag-enterpriseam","tag-sme-development-authority","wpautop","entry"],"acf":{"mongo_id":"b5707a29-852e-45dd-9669-ca7ae07a58da","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/154.jpg","photo_position":"above","related_issue":[560711],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>It\u2019s go time - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/its-go-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s go time\" \/>\n<meta property=\"og:description\" content=\"Vehicle owners in seven governorates can begin swapping out their old cars for natural gas or dual fuel vehicles before the month is out, with the government planning to launch its ambitious multi-year natgas conversion plan before April, according to a statement. 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The company has invested USD 100 mn in developing its bus service.","rel":"","context":"In &quot;Automotive + Transportation&quot;","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646777,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/22\/careem-planning-expansion-in-six-new-governorates-signs-agreement-with-orange\/","url_meta":{"origin":560723,"position":2},"title":"Careem planning expansion in six new governorates, signs agreement with Orange","author":"enterpriseam admin","date":"22 June 2017","format":false,"excerpt":"Ride-hailing app Careem is planning to expand in six new governorates by year-end, Chief Operating Officer Ramy Kato said, according to Al Borsa. New targets include Damietta, Port Said, Ismailia, Suez, Minya, and Asyut. 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