Egypt plans to replace 250,000 obsolete vehicles with LE7.1 billion green incentive ...Egypt

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Finance Minister Mohamed Maait announced Saturday that the government plans to replace 250,000 obsolete cars manufactured 20 years or more ago in seven governorates, as part of the first phase of a presidential initiative to shift Egyptian vehicles to run on clean energy. Maait added that President Abdel Fattah al-Sisi issued orders to grant an appropriate financial incentive to the owners of obsolete cars to replace them with new vehicles running on dual fuel (gasoline and natural gas). The state treasury will bear the burden of financing the LE7.1 billion green incentive for the first phase of this presidential initiative. He explained that the Cabinet agreed to grant the owner of each pri

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Last updated : 13 February 2021 clock 03:30 PM

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Egypt plans to replace 250,000 obsolete vehicles with LE7.1 billion green incentive ...Egypt

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