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Dominican government unveils new trust to promote adoption of NGVs

The Ministry of Industry, Commerce and Mipymes (MICM) and Fiduciaria Reservas launched the new “Administration Trust for the Natural Gas Massification Program (MASGAS)” to promote the expansion of the unconventional vehicle fleet and the diversification of energy sources. The project has a trust equity of around USD 1,750,000 of historical flows from the Development Margin of Natural Gas Vehicles (MDGNV) applied to companies that import this fuel.

The agreement was signed by Víctor -Ito- Bisonó, Minister of the MICM; Samuel Pereyra, Chairman of the Board of Directors of Fiduciaria Reservas and administrator of Banreservas; and Andrés Van Der Horst Álvarez, general manager of Fiduciaria Reservas.

“It is an initiative that arises from the country vision that the government of President Abinader has been promoting, such as the consolidation of the unconventional vehicle fleet through the diversification of energy sources in transportation, always bearing in mind that our main goal is migrating towards sustainable mobility”, said Minister Bisonó. He added that converting the vehicle fleet to natural gas involves high costs for the final consumer and therefore MASGAS will facilitate the purchase of conversion kits, periodic maintenance of the equipment and monitoring, through the Sales Control System (SICOEX).

Bisonó also mentioned other MICM actions to create the conditions in the market for the widespread adoption of natural gas vehicles in the country, such as “promoting efficient permits for the sale of this type of fuel, giving support both for the opening of new projects for the supply of CNG, as well as for the inclusion of this fuel in existing stations that comply with the distance parameters and safety standards.”

He reported that the fund promotes the reduction of dependence on petroleum derivatives, to comply with the commitments acquired in international agreements related to the protection and preservation of the environment and the reduction of atmospheric pollution.

In addition, Pereyra said that the initiative “will be an additional step in the vision of the current government to contribute to the conservation of the environment and help reduce pollutant emissions in our national vehicle fleet.”

Van Der Horst also explained that Fiduciaria Reservas will provide the services required by the Dominican State, represented by the MICM, in order to allocate the resources for the purchase, installation and maintenance of the CNG conversion equipment, in favor of the beneficiaries. It will also grant subsidies to the workshops for the conversion of vehicles or maintenance of the conversion equipment, after validation and given the conditions agreed with the authorized workshops for their exchange.

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