{"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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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":1},"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. Infinity now has a total of 150 charging points in operation\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\/2\/131.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559011,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/05\/meet-our-greener-future\/","url_meta":{"origin":560897,"position":2},"title":"Meet our green(er) future","author":"enterpriseam admin","date":"5 January 2021","format":false,"excerpt":"The Central Bank of Egypt (CBE) has launched a multi-bn EGP program to encourage car owners to outfit their vehicles with dual-fuel engines under the government\u2019s natural gas transition plan, Governor Tarek Amer said, according to Al Shorouk. Announced yesterday on the first day of the Go Green Exhibition \u2014\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/53.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558667,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/govt-to-take-300-old-microbuses-off-the-road-each-month\/","url_meta":{"origin":560897,"position":3},"title":"Gov\u2019t to take 300 old microbuses off the road each month","author":"enterpriseam admin","date":"22 August 2021","format":false,"excerpt":"The government plans to deliver some 300 natgas-powered microbuses each month starting August as part of the state\u2019s plan to replace old vehicles with new models that have dual-fuel engines, Finance Minister Mohamed Maait said in a statement. 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The new stations will bring the total number operated by the Qalaa Holdings subsidiary to 21,\u2026","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":[]},{"id":567936,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/egypts-natgas-transition-is-in-line-for-a-boost\/","url_meta":{"origin":560897,"position":5},"title":"Egypt\u2019s natgas transition is in line for a boost","author":"enterpriseam admin","date":"13 December 2020","format":false,"excerpt":"Subsidized loans and more may be in the cards for those looking to convert petrol-powered cars to run on natural gas after President Abdel Fattah El Sisi called on the Central Bank of Egypt (CBE) and the Madbouly government to provide car owners with \u201cappropriate\u201d financial incentives. The president made\u2026","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\/2020\/12\/216.jpg?fit=%2C&ssl=1&resize=350%2C200","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}]}}