Raya Holding for Financial Investments, an investment group founded by Egyptian tycoon Medhat Khalil, has entered into a strategic partnership deal with Lafarge Egypt to convert its entire fleet to run on natural gas.
Lafarge Egypt is a member of the Swiss-based Holcim Group.
The partnership, which sits at the heart of a new agreement between Lafarge Egypt and Ostool for Land Transportation, a Raya Holding operating subsidiary, will see all Lafarge Egypt’s trucks run on natural gas in line with the company’s aim to reduce its carbon footprint.
The conversion of the vehicles to natural gas will promote green practices and lower the carbon footprint of ground transportation in Egypt. This is a major global environmental issue today, as ground transport accounts for 18 percent of the total emissions created by human activity.
Jimmy Khan, CEO of Lafarge Egypt, commented on the partnership, stating: “We strongly believe in the vitality of environmental sustainability as well as combating climate change, where we contribute to achieving Holcim’s vision — the vision for a future that builds progress for people and the planet.”
Karim Hassan, logistics and supply chain director of Lafarge Egypt, said Lafarge will help reduce greenhouse gas emissions by implementing a green strategy in its plants and supply chain.
Raya Holding is an Egyptian investment conglomerate established in 1999 through the merger of entities owned by Khalil and Orascom Group.
Khalil owns 58.1 percent of the company, or 1,245,661,205 shares.
Recently, the Egyptian investment group agreed to sell a 62.3-percent stake in its subsidiary, Ostool Transport, to Paradigm Logistics, a U.S. logistics and transport management company.