Browsing: Uganda and Tanzania Sign $3.5bn Oil Pipeline Project

Uganda and Tanzania sign $3.5bn oil pipeline deal

The government of Uganda and Tanzania sign $3.5 billion pipeline project agreement that will see the construction of 1,445 km (898 miles) crude oil pipeline.

The signing ceremony was presided by Uganda’s President Yoweri Museveni and John Pombe of Tanzania, With Uganda’s energy minister Mary Goretti Kitutu and Tanzania’s energy minister Medad Kalemani jointly signing the agreement between the two countries.

(Uganda and Tanzania Sign $3.5bn Oil Pipeline Project)

The pipeline will transport crude oil from Uganda’s oil fields in Hoima to the port of Tanga.

Speaking at the event, Museveni said that for the people of the two countries to start enjoying the fruits endowed resources, the project has to begin with immediate effect.

Uganda and Tanzania Sign $3.5bn Oil Pipeline Project

“Since we discovered the oil in Uganda, there has been a lot of debate and negotiations on terms to be applied, it’s good that all these have come to an end and now, we are …