TAQA.CA 12.97 EGP
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TAQA Arabia the energy subsidiary of Qalaa Holdings and Chillout a subsidiary of The National Company for roads building and development inaugurate the First Natural Gas Station in New Cairo
Cairo, Egypt: 14th of July 2020
TAQA Arabia the energy subsidiary of Qalaa Holding announced today that its gas filling arm “Master Gas” has inaugurated its 11th CNG Station and the first in new Cairo in collaboration with “Chillout”. The inauguration was attended by Major General Magdy Anwar, Chairman of The National Company for roads building and development; Dr. Ahmed Heikal, Chairman and Founder of Qalaa Holdings; and Eng. Ahmed Mahmoud, Vice-Chairman of the Board of Directors for Planning and Projects at the Egyptian Natural Gas Holding Company (EGAS). The new station, which is located in Al Rehab City in New Cairo, will have a capacity to fuel 30 cars with natural gas each hour.
“We are extremely proud to have become the first company to partner with Chillout in the establishment of natural gas stations,” said Pakinam Kafafi, CEO of TAQA Arabia. “The New Cairo station marks the first outpost of our partnership, with another station underway operational trials in Chillout 6th of October. We could not be more thankful to The National Company for roads building and development for their support and diligence in the construction and launch of the station that was built to the highest specifications and in record time.”
In addition to the other stations in cooperation with Chillout, TAQA Arabia has plans to launch 13 new natural gas stations in various locations across the country during 2020. This forms part of a wider expansion plan by the company to establish a total of 50 stations during the next three years at an investment cost of around EGP 650 million.
“TAQA is committed to expanding the use of natural gas by introducing the latest available technology, in line with Egypt’s national strategy to promote the use of natural gas as an economically and environmentally viable source of fuel for vehicles,” commented Khaled Abu Bakr, Executive Chairman at TAQA Arabia. “The successful inauguration of the station today was made possible by policies under the guidance of the Ministry of Petroleum as well as close and continuous cooperation between TAQA and EGAS.”
“We are pleased with this cooperation as well as the attention currently being received by the energy sector from the Egyptian government, resulting in concerted efforts to maximize the utilization of the state’s natural gas resources for vehicles and home use,” said Dr. Ahmed Heikal, Chairman and Founder of Qalaa Holdings. “We are currently seeking to increase our investments in natural gas projects through our subsidiary TAQA Arabia with the ultimate aim of replacing some of our imported liquid petroleum products with locally produced natural gas.”
Master Gas, TAQA Arabia’s gas filling arm, is a pioneer in the Egyptian natural gas market, providing natural gas for use in the operation of vehicles through its branded stations. The company also leverages its leading position and advanced technological practices to provide transport solutions, in line with international best practices, to transport compressed natural gas to remote regions in the country without access to the national distribution network.