GE, Saipem to build Uganda refinery

KAMPALA, August 8, 2017 – A consortium of GE, Saipem, Yaatra Ventures and Intracontinent Asset Holdings will build Uganda’s first refinery, international media reported on Monday.

The facility is projected to have a capacity of 60,000 bpd and cost USD 4 billion, Bloomberg reported.

“The consortium has proposed to [the] government a financing approach and a path to establish, develop and operate a commercially viable refinery company with a strategic benefit to the country and the region,” Uganda’s Ministry of Energy and Mineral Development said in a statement. “The oil refinery is expected to spur growth of petrochemical and other related industries in Uganda.”

A consortium led by RT Global Resources and SK Engineering & Construction had been contracted to build the refinery in 2015 but pulled out of the deal a year later.

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