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FINANCIAL NEWS
Emgas spends USD30m on infrastructure program
28 Feb 2011
(MENAFN) The CEO of the Dubai government-owned Enoc, Saeed Abdullah Khoury, said that the company’s wholly owned subsidiary, Emirates Gas LLC (Emgas), spent a total of USD30 million in the first phase of its infrastructure construction program for distributing Compressed Natural Gas (CNG), reported Gulf News.
Khoury said that first phase, between 2010 and 2014, would include constructing 2 CNG main stations connected to a natural gas pipeline along with 4 to 5 CNG sub stations.
The CEO said that the next phase is estimated to cost USD100 million and would include improving the infrastructure of 6 stations linking 2 pipelines and 19 CNG on line stations.
It is worth noting that CNG is an alternative fuel for motor vehicles which slashes emissions by 70 percent per vehicle and costs by 30 percent.
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