FMO Bank to fund Uganda Solar PV Project
Uganda’s Tororo solar photovoltaic (PV) project has received a US$14.7 million senior loan from the Dutch development bank, FMO. The plant will be developed and owned under the expertise of Italian firm Building Energy, who will be responsible for the construction and operation of the power plant. According to media, the Bank acted as Mandated Lead Arranger of the facility, of which 50% was syndicated to the Emerging Africa Infrastructure Fund (EAIF). (Source: Trade Arabia)
Government to Build Cement Plant
The government intends to build a cement plant in Karamoja in partnership with Moroto Ateker Cement. The company is a formation of Uganda Development Corporation and Savannah Mines, a local firm based in Karamoja, with a shareholding of 51% and 49% respectively, according to the Monitor newspaper. Moroto Aterer has contracted India’s Saboo Technologies to build the cement plant in the Moroto Industrial Park. Saboo has completed a feasibility study and say that the plant will be completed in two phases. (Source: Global Cement)
Uganda Oil Refinery Completion Date Pushed to 2020
Uganda has rescheduled the completion date for its planned crude oil refinery plant in Kabaale, Hoima district, by two more years after a lead investor pulled out of the project at a crucial stage of its implementation. Energy Minister Irene Muloni stated that owing to the last minute collapse of talks with the Russian consortium Rostec Global Resources, which had won the tender to finance, build and operate the refinery, the completion date has been pushed from 2018 to 2020. The government has started discussions with other interested investors, with expectations of concluding the negotiations by the end of the year. (Source: East African)