Old taxi cars in the Scrapping Area along the Cairo-Alexandria Desert Road are the property of the Ministry of Finance, being the authority supervising the implementation of Taxi Replacement Project a...

Old taxi cars in the Scrapping Area along the Cairo-Alexandria Desert Road are the property of the Ministry of Finance, being the authority supervising the implementation of Taxi Replacement Project and having compensated their owners, said Mr. Mohammed El Far, the advisor to the Minister of Finance. The Ministry of Finance sells those cars in monthly lots through public tenders open to local and international bidders. The cars eventually go to private scrapping factories owned by the winning bidder, he pointed out. Mr. El Far dismissed as groundless a rumor that these cars were bought by business tycoon Ahmed Ezz, or that the latter is the owner of the company which was awarded the bid. (Source: Ministry of Finance)