Egypt to produce 1st bus powered by natural gas in 2022

CAIRO - 5 December 2021: The Minister of Business Sector, Hisham Tawfik, said that next year will witness the production of the first bus powered by natural gas in Egypt.

Tawfik added - in a TV interview on Saturday - that 70 percent of the local components of the buses will be manufactured to work with natural gas.

With regard to spinning and weaving in Egypt, Tawfik explained that the cost of the project to develop the spinning and weaving industry amounts to about LE 21 billion, of which LE 7 billion are constructions for 65 buildings and LE 9.5 billion for machines and the rest of the funds are for training, capital and marketing.

"We have reached a construction rate of 60 percent, and we will start installing the machines starting next April," the minister added, noting that there is cooperation between the ministries of agriculture, trade and industry to experiment with cultivating short-staple cotton in Egypt, and the experiment was successful in East Owainat and with high productivity.

He pointed out that the quality of the short-staple cotton grown in Egypt is high, adding that the state was importing short-staple cotton with about LE 2 billion annually, stressing that the cultivation of short-staple cotton in Egypt provides hard currency for Egypt.

"Over two years, we succeeded in restoring the auction system on cotton, and the experiment was circulated at the level of 14 governorates with 191 centers,” he added.

Concerning the conversion of the Iron and Steel Company’s lands into a residential activity, Tawfik answered, “The lands of the Iron and Steel Factory in Helwan are being converted into a real estate activity, and the 6 million meters will be offered in public auctions to cover the debts of the Iron and Steel Company, and compensation for workers at a value of LE 11.25 billion. ".

Regarding the liquidation of one of the losing companies, the Minister of Business Sector said that the liquidation of one of the losing companies, which has already been identified, will be announced soon.