Under government supervision … replace your old car with a new one that runs on gasoline (Know the conditions)

During the current month of January, the government will launch the “National Program for the Conversion and Replacement of Automobiles to Run on Natural Gas”, through which taxis, minibuses and owners who have passed 20 years ago can replace it with another modern car dual fuel (gasoline and natural gas).

Dr. Nevin Jameh, Minister of Industry and Commerce, confirmed that the project will begin to be implemented during the current month of January, highlighting that through this project, cars will be converted to run on natural gas, highlighting that it is a national project that enjoys the interest of President Abdel Fattah Al-Sisi.

What are the details of the project?

1- The Ministry of Industry intends, through the program, to target the replacement of 250,000 cars.

2- The first batch targets 70,000 cars, including 55,000 taxis and owners and 15,000 minibuses

3- The first phase will be the local assembly cars, while the second phase will be agreed with international companies to work on the project.

4- The Ministry of Industry assigned one million angel cars that were counted to enter the replacement process.

What are the steps to replace the old car with the new one?

1- Scrapping the old car at 10.5 km on the Alexandria Desert Road after obtaining a car data certificate, in addition to that, obtaining a certificate of scrapping the car is also shared.

2- Obtaining the check for the delivery of the old car, which is considered an advance for the purchase of the new car.

3- Submit a bank credit application through one of the banks that have been identified in the initiative program, specifying the car model and the name of the company through which the contract will be made.

4- Present a copy of the national identification, a copy of the old car license and a recent utility bill.

5- The loan contracts are signed between the owner of the vehicle and the bank.

What are the conditions that must be met in replacement?

1- The driver’s license must be valid until the date of the application.

2- The absence of prohibitions in the license of the car whose owner wants to replace it.

What is the monthly payment for a new car?

The citizen will pay for the old car as an advance on the new car, as long as the bank finances the rest of the price of the car and the car owner pays it in installments with an interest lower than 5% and for repayment periods of up to 10 years.

What is the benefit of renovating and replacing the old car?

According to the study prepared by the Ministry of Industry, the citizen’s new cars will save the citizen 50% of the operating expenses, due to the consumption of natural gas for him in the dual-fuel mechanism, instead of working only with gasoline.