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Browsing: investments in Uganda
Uganda National Oil Company (UNOC) to invest $840 million in joint infrastructure projects in the oil and gas sector in Uganda, said Proscovia Nabbanja, the Chief Executive Officer.
Nabbanja signed a memorandum of understanding with Stanbic Bank to facilitate the two entities collaborating to train local entrepreneurs ahead of oil developments.
She said a significant amount of money either through loans or the national budget will go towards investments in the refinery, pipeline, bulk trading, storage tank as well as the industrial park.
“We hope that this level of equity will be spread in a period of five years in our national budgets to ease pressure on the country’s debt burden,” she said. “The investment will be based on the medium-term expenditure framework.”
Also Read: Uganda projected growth too ambitious, World Bank
Out of the planned $4 billion in the oil refinery and $3.5 billion investment in the pipeline, UNOC …