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Tuesday, 17 June 2014

Four firms submit bids for Sh210bn Uganda oil refinery

The setting up of the planned Uganda oil refinery, in which Kenya has invested Sh6.5 billion, has moved closer to fruition after four firms submitted proposals at the end of last week.
According to a statement from Uganda’s Ministry of Energy and Mineral Development, the firms, which are vying for the role of lead investor, presented proposals for the development of the Sh210 billion refinery.

The four companies are China Petroleum Pipeline Bureau (CPPB), Marubeni Corporation from Japan, RT–Global Resources from Russia and SK Group from South Korea.
“Four of the six shortlisted firms/ consortia have submitted detailed proposals to the Government of Uganda for the role of lead investor/operator for the development of the 60,000 barrels per day oil refinery and related downstream infrastructure in the country,” said the Ugandan Ministry in a statement.
Uganda’s Ministry of Energy and Mineral Development permanent secretary, Mr Fred Kabagambe-Kaliisa said the government was looking for a credible, experienced and financially capable partner to work with Uganda to develop a refinery.
Negotiations to start development are expected to be concluded by the end of September this year.