Uganda chooses multi-country consortium to build new oil refinery
Kampala — Uganda chose a group that includes General Electric (GE) to build and operate a 60,000-barrels-a-day refinery that will process part of the crude extracted from fields being developed by Total and Tullow Oil Plc. The Albertine Graben Refinery Consortium — which also includes Yaatra Ventures, Intracontinent Asset Holdings and Italy’s Saipem — was picked after a review of more than 40 companies, Uganda’s energy ministry said on Monday in a statement on its Facebook page. The government expects to conclude a project framework agreement with the consortium over the next two months, the Kampala-based ministry said. Uganda has been seeking a new developer for the $4bn facility since negotiations with groups led by Russia’s RT Global Resources and South Korea’s SK Engineering & Construction collapsed. "The consortium has proposed to government a financing approach and a path to establish, develop and operate a commercially viable refinery company with a strategic benefit to the c...
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