Uganda just gave UNOC a big chunk of the new oil deal. The national company will control 40 percent of the refinery project. Alpha MBM Investments from UAE signed papers for the other 60 percent. The signing happened on March 29 at the President's house in Entebbe.
President Museveni watched as officials put pen to paper. This agreement follows earlier talks that began in December last year. The real work started mid-January when teams hammered out details. Construction plans include a huge oil plant that handles 60,000 barrels daily.
The project brings more than just a refinery to Hoima District. Workers will build a modern storage area in the Mpigi District. A long pipeline stretching 212 kilometers will connect these sites. They'll also create a water system called Mbegu to keep everything running smoothly.
Money talks, and this deal speaks volumes - about $4 billion worth. That adds up to roughly 15.2 trillion Ugandan shillings in fresh cash. The work should start this year on top of current oil projects. Uganda and UAE partners signed five extra agreements covering planes, trees, land records, and payment systems.
Museveni warned government workers not to slow things down with paperwork. He praised UAE businesspeople for creating wealth despite harsh desert conditions. He pointed out how some Ugandans remain poor despite fertile land and natural resources. The President wants Uganda to make finished products instead of selling raw materials.
Ruth Nankabirwa, Energy Minister, said the project matches Uganda's 2008 oil policy and regional plans for East African fuel production. The refinery promises thousands of jobs for local people. It should teach valuable skills and launch new business areas like fertilizer making.
Sheikh Mohammed Bin Maktoum headed the UAE team at the meeting. During his speech, he called Uganda his second home. The Sheikh first met Museveni almost two years ago. He thanked Ugandan leaders for creating a business-friendly country where investors feel welcome.
Many important officials attended the event that day. Finance Minister Matia Kasaija came to see the signing. Deputy Attorney General Jackson Kafuuzi watched the ceremony. Treasury leader Ramathan Ggoobi represented the finance department. UNOC boss Proscovia Nabbanja joined them, among others, at this historic moment.
President Museveni watched as officials put pen to paper. This agreement follows earlier talks that began in December last year. The real work started mid-January when teams hammered out details. Construction plans include a huge oil plant that handles 60,000 barrels daily.
The project brings more than just a refinery to Hoima District. Workers will build a modern storage area in the Mpigi District. A long pipeline stretching 212 kilometers will connect these sites. They'll also create a water system called Mbegu to keep everything running smoothly.
Money talks, and this deal speaks volumes - about $4 billion worth. That adds up to roughly 15.2 trillion Ugandan shillings in fresh cash. The work should start this year on top of current oil projects. Uganda and UAE partners signed five extra agreements covering planes, trees, land records, and payment systems.
Museveni warned government workers not to slow things down with paperwork. He praised UAE businesspeople for creating wealth despite harsh desert conditions. He pointed out how some Ugandans remain poor despite fertile land and natural resources. The President wants Uganda to make finished products instead of selling raw materials.
Ruth Nankabirwa, Energy Minister, said the project matches Uganda's 2008 oil policy and regional plans for East African fuel production. The refinery promises thousands of jobs for local people. It should teach valuable skills and launch new business areas like fertilizer making.
Sheikh Mohammed Bin Maktoum headed the UAE team at the meeting. During his speech, he called Uganda his second home. The Sheikh first met Museveni almost two years ago. He thanked Ugandan leaders for creating a business-friendly country where investors feel welcome.
Many important officials attended the event that day. Finance Minister Matia Kasaija came to see the signing. Deputy Attorney General Jackson Kafuuzi watched the ceremony. Treasury leader Ramathan Ggoobi represented the finance department. UNOC boss Proscovia Nabbanja joined them, among others, at this historic moment.
