Arab Finance: Natural Gas Vehicles Company (Cargas), an affiliated company of the Egyptian Ministry of Petroleum, signed a memorandum of understanding (MoU) with the South Korean company KwangShin, according to a statement.
The MoU, signed on the sidelines of the EGYPES 2026, aims to boost expansion into African and Middle Eastern markets, particularly in the areas of converting vehicles to run on compressed natural gas (CNG).
The deal also covers designing and building refueling stations and related civil works, conducting initial operational tests, and handling the operation, maintenance, and transportation of CNG.
It aligns with the ministry’s strategy to expand the use of natural gas as a clean and sustainable fuel. This is in addition to creating opportunities for regional and international cooperation, which will, in turn, maximize added value.
