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Egypt will require new cars to operate on natural gas before they receive a license, President Abdel-Fattah El-Sisi said, stressing the move will help reduce middle-income families’ fuel bills by half.
El-Sisi, speaking Sunday during the inauguration of a national project, said converting 1 million vehicles in Egypt to natural gas will cost a total of about 8 billion pounds ($5.3 million). In comments carried by local media, he urged banks to provide lower interest financing to help consumers fund the conversion to natural gas.
The proposed regulation would also apply to taxi cabs and microbuses, he said.
The post Egypt to Require New Vehicles to Run on Natural Gas, Sisi Says appeared first on Bloomberg.