{"id":560897,"date":"2021-03-17T03:53:15","date_gmt":"2021-03-17T03:53:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/17\/how-much-will-car-owners-pay-to-transition-to-natgas\/"},"modified":"2021-03-17T03:53:15","modified_gmt":"2021-03-17T03:53:15","slug":"how-much-will-car-owners-pay-to-transition-to-natgas","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/17\/how-much-will-car-owners-pay-to-transition-to-natgas\/","title":{"rendered":"How much will car owners pay to transition to natgas?"},"content":{"rendered":"

<\/a> Here\u2019s how much swapping your car for a natgas vehicle will set you back: <\/strong>Passenger car owners looking to swap old vehicles for new ones running on cleaner energy will have their pick of seven models eligible for state financial support, according to a list (pdf)<\/a> published on the government\u2019s natgas transition plan website<\/a>. The cars include models by Hyundai, Chevrolet, Nissan, Lada, and BYD, with prices starting at EGP 146k for a Lada Granta bought straight off the lot and ranging as high as EGP 279k for a Nissan Sentra. The same models are also available for purchase with 7- and 10-year payment plans.<\/p>\n

And here\u2019s how you could fund it:<\/strong> Buyers will be eligible for subsidized loans funded by the central bank, the Trade and Industry Ministry, and MSME Development Agency, which will hand out a combined EGP 16.2 bn<\/a> to vehicle owners through participating banks. Borrowers will pay a 3% rate of interest over a 7-10 year repayment period. The Finance Ministry is also providing financial incentives<\/a> to people to participate in the scheme: Car owners can get up to EGP 22k off the cost of a new vehicle, taxi owners EGP 45k and microbus owners EGP 65k.<\/p>\n

Background: <\/strong>The first phase of Sisi administration\u2019s plan<\/a> to convert or replace 1.8 mn cars to run on dual-fuel engines kicked off earlier this month<\/a>, with car owners in seven governorates now eligible to sign up. This phase is expected to see 250k old passenger cars, microbuses, and taxis taken off the road and outfitted with new engines by the end of 2023. The entire three-stage program is expected to cost EGP 320 bn at its completion, with the government previously estimating the cost of each vehicle conversion at EGP 8k-12k.<\/p>\n

OTHER ENERGY NEWS- <\/strong><\/p>\n

The government will continue to subsidize butane gas cylinde<\/strong>rs <\/strong>over the next fiscal year<\/strong>, keeping their end user price at EGP 65 apiece, almost half the EGP 120 production cost, El Watan<\/a> reports, citing an Oil Ministry source. The government lifted subsidies on most other petroleum products in 2019<\/a> as part of the IMF-sanctioned economic reform program, though the butane still used by mns to fire up their stovetops and fuel used for bakeries and electricity plants remains heavily subsidized. The state has for years now funded projects to bring regulated natural gas lines to homes nationwide<\/strong>, providing a subsidy to contractors owned by EK Holding and TAQA Arabia, among others, to connect homes to the national grid.<\/p>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s how much swapping your car for a natgas vehicle will set you back: Passenger car owners looking to swap old vehicles for new ones running on cleaner energy will have their pick of seven models eligible for state financial support, according to a list (pdf) published on the government\u2019s natgas transition plan website. The […]<\/p>\n","protected":false},"author":1,"featured_media":560898,"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":[7207],"tags":[144,93,72,268,368],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-automotive","tag-energy","tag-enterpriseam","tag-natgas-transition-scheme","tag-sustainability","wpautop","entry"],"acf":{"mongo_id":"8dcdd2a0-322c-4f58-9694-7534a490badb","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/227.jpg","photo_position":"above","related_issue":[560892],"teaser":"","voice_url":""},"yoast_head":"\nHow much will car owners pay to transition to natgas? - 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\/17\/how-much-will-car-owners-pay-to-transition-to-natgas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How much will car owners pay to transition to natgas?\" \/>\n<meta property=\"og:description\" content=\"Here\u2019s how much swapping your car for a natgas vehicle will set you back: Passenger car owners looking to swap old vehicles for new ones running on cleaner energy will have their pick of seven models eligible for state financial support, according to a list (pdf) published on the government\u2019s natgas transition plan website. 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Licenses will\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/264.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":646058,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/05\/egpc-wins-court-decision-in-france-no-longer-required-to-pay-natgas-egp-250-mn\/","url_meta":{"origin":560897,"position":1},"title":"EGPC wins court decision in France, no longer required to pay NATGAS EGP 250 mn","author":"enterpriseam admin","date":"5 June 2017","format":false,"excerpt":"ENTERPRISE EXCLUSIVE- The French Court of Cassation has issued a verdict reversing a decision that had required state-owned Egyptian General Petroleum Company (EGPC) to pay National Gas Company (NATGAS) EGP 250 mn in damages as part of a 2009 case. Deputy Justice Minister for Arbitration and International Disputes Moustafa El\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556481,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/27\/natgas-vehicles-are-getting-a-little-bit-pricier\/","url_meta":{"origin":560897,"position":2},"title":"Natgas vehicles are getting a little bit pricier","author":"enterpriseam admin","date":"27 October 2021","format":false,"excerpt":"Some dual-fuel vehicles delivered through the government\u2019s natgas transition scheme will be EGP 3-5k more expensive after the Finance Ministry approved three manufacturers\u2019 requests to raise their prices, the official spokesperson for the initiative, Ahmed Abdelrazek, told Enterprise. Nissan, Alamal Group (which is delivering BYD and Lada cars), and Zemex\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/292.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559890,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/what-will-it-take-to-get-electric-cars-on-the-road\/","url_meta":{"origin":560897,"position":3},"title":"What will it take to get electric cars on the road?","author":"enterpriseam admin","date":"8 February 2021","format":false,"excerpt":"Infinity Solar subsidiary Infinity-E will install 300 electric car charging docks across Egypt by 2023 as part of an ongoing plan to invest EGP 300 mn in EV infrastructure, CEO Shams El Din Abdel Ghaffar said, according to Masrawy. 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The first dual-fuel microbus is now on the road after being delivered\u2026","rel":"","context":"In "Transport"","block_context":{"text":"Transport","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/transport\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/220.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600110,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/20\/western-burullus-field-to-begin-producing-natgas-next-year\/","url_meta":{"origin":560897,"position":5},"title":"Western Burullus field to begin producing natgas next year","author":"enterpriseam admin","date":"20 January 2019","format":false,"excerpt":"Natural gas production from the Mediterranean\u2019s western Burullus field will begin in 2020, according to an Oil Ministry statement.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=560897"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560897\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560898"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560897"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560897"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}