Fahmi witnesses setting up Egyptian-Italian gas equipment manufacture company

The first Egyptian-Italian company of its kind in the Middle East has been created to set up natural gas filling stations.

"Egypt has invested 51 per cent of the $ 1.4 million capital for this company, said Minister of Petroleum Sameh Fahmi said yesterday.

"The company will produce the equipment for 12 natural gas filling statins and will export 50 of its production to the neighbouring countries in the Middle East, "Fahim added. "It is important to maximise local production from petrochemical industries to meet needs of industry," he said, adding that local manufacturing will help cut imports and create jobs for young people," he said.

Addressing the meeting of the General Assembly of the Egyptian International Company for Gas Technology (Casco), Fahmi referred to the importance of increasing the use of natural gas for transportation purposes thereby reducing consumption of conventional fuels and conserving the environment.