The Dominican government has created a RD$100 million trust fund to transform the vehicle fleet from fossil fuels to natural gas (NGV). The project is to start with 50 passenger buses and cargo trucks.
The Ministry of Industry, Commerce and Mipymes (MICM) and Fiduciaria Reservas through the Fideicomiso Público de Administración para el Programa de Masificación del Gas Natural (Masgas).
Industry and Commerce Minister Víctor (Ito) Bisonó said Masgas/Fiduciaria Reservas will provide low-cost loans to purchase natural gas-fueled vehicles and convert others to natural gas. New vehicles and those with less than five years will be imported as part of the new program.
Andrés Van der Horst Álvarez is the general manager of the Fiduciaria Reservas. He explained that 50 buses and trucks of the National Confederation of Transport Organizations (Conatra) and the National Federation of Dominican Transport (Fenatrado) will participate in the project in a first stage.
Van der Horst emphasized that natural gas allows economic savings ranging from 40% to 60% compared to traditional fuels. He said natural gas is a cleaner fuel that reduces the emission of greenhouse gases into the environment by 30%.
Industry & Commerce Minister Bisonó said the installation of 20 NGV refueling stations has been approved to the first two companies.
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Ministry of Industry & Commerce
17 March 2021