Government sources confirm that the Ugandan cabinet last week picked General Electric (G.E), one of the companies vying for the financing and construction of an oil refinery, to complete the venture. The meeting was held at State House Entebbe, the residency of the President. GE, an American company is a part of the Intra-continental Asset Holdings (IA) consortium, Mauritius-based private equity firm, and includes amongst others Washington based Yaatra Ventures
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Aug 2017
$ 4.5 billion refinery deal far from closure. Fate of Energy PS tied to controversy over award
Uganda’s $ 4.5 billion refinery project could be delayed by a protracted dispute if one of the competitors, choses to go to court over the way the procurement process is being handled. Subsequently the new permanent secretary at Uganda’s Ministry of Energy Stephen Isabalijja is under pressure with rumors of his firing doing rounds. Amongst others it is said he may have prompted legal action after he personally ruled out
Uganda and Tanzania have signed an agreement to advance the crude oil pipeline also known as the East African Crude Oil pipeline Project. This brings Uganda closer to First Oil and takes forward the process of commercializing its crude. The government expects a Front End Engineering and Design