{"id":562570,"date":"2021-05-30T04:00:12","date_gmt":"2021-05-30T04:00:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/"},"modified":"2021-05-30T04:00:12","modified_gmt":"2021-05-30T04:00:12","slug":"govt-wants-to-expand-natgas-transition-plan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/","title":{"rendered":"Gov\u2019t wants to expand natgas transition plan"},"content":{"rendered":"

The Finance Ministry could expand its automotive natgas transition scheme<\/strong> to allow more vehicle owners and more governorates to participate, Finance Minister Mohamed Maait said in a statement<\/a> on Friday. The ministry is considering opening it up to new governorates as soon as they have the required infrastructure, while new companies will be allowed to join, provided that their vehicles meet the minimum local component requirement of 45%. As things stand now, vehicle owners in seven governorates<\/a> can sign up to the program, and companies including Toyota<\/a>, VW, Foton and Joylong<\/a> are on board, with talks ongoing with Jinbei<\/a>and Brilliance<\/a>.<\/p>\n

The rules have already been eased once:<\/strong> In March<\/a>, the government began allowing motorists who have owned their vehicles for two years to apply to the scheme, down from three years previously. Those who have already submitted requests through the government platform to swap out their cars will also be able to amend the details of their applications and change the model, make, or color of their requested vehicle.<\/p>\n

Some 40k people have so far met the conditions of the program<\/strong> and have been contacted by the ministry, compared to 30k in early April<\/a>. As of last month,a total of 70k citizens<\/a> had applied for the scheme.<\/p>\n

Background<\/strong>. Egypt plans to swap out an overall 1.8 mn cars<\/a> over the course of a decade \u2014 a move that is expected to cost some EGP 320 bn. The government plans to convert 450k cars<\/a> to run on natural gas within the upcoming three years. Over 340 dual-fuel cars were delivered during April, including a first batch of around 30 vehicles. SomeEGP 2 bn in incentives<\/a> will be paid out during FY2021-2022 fiscal year to encourage car owners to take part in the state\u2019s natgas transition plan.<\/p>\n

OTHER AUTOMOTIVE NEWS- Vehicle owners with auto loans will be able to renew their <\/strong>existing car license, obtain a new one, as well as lift the sale ban on their vehicles online as of today<\/strong> under a new Central Bank of Egypt directive, local press<\/a> reported. The move aims to do away with paper transactions and facilitate easier procedures for car owners, and comes as a result of the signing of an MoU between the CBE and the Egyptian Credit Bureau (I Score). The CBE launched in 2019 an electronic database<\/a>for vehicles bought using bank loans with I Score, allowing debtors to complete procedures such as license renewal.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Finance Ministry could expand its automotive natgas transition scheme to allow more vehicle owners and more governorates to participate, Finance Minister Mohamed Maait said in a statement on Friday. The ministry is considering opening it up to new governorates as soon as they have the required infrastructure, while new companies will be allowed to […]<\/p>\n","protected":false},"author":1,"featured_media":562571,"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":[144,72,7087,276,268],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automotive","tag-enterpriseam","tag-finance","tag-finance-ministry","tag-natgas-transition-scheme","wpautop","entry"],"acf":{"mongo_id":"d349ac34-e4ea-4609-81ce-b0baff63e965","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/267.jpg","photo_position":"above","related_issue":[562558],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t wants to expand natgas transition plan - 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\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t wants to expand natgas transition plan\" \/>\n<meta property=\"og:description\" content=\"The Finance Ministry could expand its automotive natgas transition scheme to allow more vehicle owners and more governorates to participate, Finance Minister Mohamed Maait said in a statement on Friday. The ministry is considering opening it up to new governorates as soon as they have the required infrastructure, while new companies will be allowed to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-30T04:00:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/267.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t wants to expand natgas transition plan\",\"datePublished\":\"2021-05-30T04:00:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/\"},\"wordCount\":406,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/267.jpg?fit=%2C&ssl=1\",\"keywords\":[\"automotive\",\"EnterpriseAM\",\"Finance\",\"Finance Ministry\",\"natgas transition scheme\"],\"articleSection\":[\"Automotive\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/govt-wants-to-expand-natgas-transition-plan\/\",\"name\":\"Gov\u2019t wants to expand natgas transition plan - 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The scheme will initially be rolled out in Cairo, Giza, Qalyubia, Alexandria, Suez, Port Said and\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\/2021\/6\/69.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560897,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/17\/how-much-will-car-owners-pay-to-transition-to-natgas\/","url_meta":{"origin":562570,"position":1},"title":"How much will car owners pay to transition to natgas?","author":"enterpriseam admin","date":"17 March 2021","format":false,"excerpt":"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\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\/2021\/3\/227.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561720,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/19\/more-natgas-vehicles-than-initially-planned\/","url_meta":{"origin":562570,"position":2},"title":"More natgas vehicles than initially planned?","author":"enterpriseam admin","date":"19 April 2021","format":false,"excerpt":"The government plans to convert 450k cars to run on natgas within three years under its natgas transition plan, Oil Ministry spokesperson Hamdy Abdel Aziz told eXtra News yesterday (watch, runtime 5:13). That includes the 250k figure that was previously announced \u2014 which the Trade and Industry Ministry is handling\u2026","rel":"","context":"In "NATGAS TRANSITION"","block_context":{"text":"NATGAS TRANSITION","link":"https:\/\/enterpriseam.com\/egypt\/category\/natgas-transition\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/185.jpg?fit=%2C&ssl=1&resize=350%2C200","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":562570,"position":3},"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":573798,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypt-earmarks-egp-1-2-bn-in-financing-for-the-countrys-natgas-transition\/","url_meta":{"origin":562570,"position":4},"title":"Egypt earmarks EGP 1.2 bn in financing for the country\u2019s natgas transition","author":"enterpriseam admin","date":"18 August 2020","format":false,"excerpt":"Gov\u2019t, CBE lay down framework for EGP 1.2 bn on-lending program for the country\u2019s natgas transition: The Trade and Industry Ministry, the Central Bank of Egypt (CBE), and the MSME Development Agency are setting up a financing program through the country\u2019s banks to extend EGP 1.2 bn in low-interest loans\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":558667,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/govt-to-take-300-old-microbuses-off-the-road-each-month\/","url_meta":{"origin":562570,"position":5},"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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