The Uganda National Oil Company (UNOC) is looking for a private investor to co-fund the construction of a UGX490bn ($132.3m) oil terminal to complete plans for a new 211km pipeline.
“Right now we are developing the terms of reference for a strategic partner who we should be identifying very soon,” Proscovia Nabbanja, UNOC Upstream Chief Operating Officer, is reported to have said at the Stanbic Bank Enterprise Banking Conference in Kampala.
The master plan is available for the Buloba Terminal and UNOC will hold majority ownership while the private company will own 49%. However, the government is yet to find a partner for the terminal, local media reported.
The pipeline will transfer products from the refinery into a terminal in Buloba that is estimated to have about 240 million litres of various petroleum products.
Proscovia said the terminal will serve both local and neighbouring countries. “If we get the volumes within the strategic terminal today, we can start by importing the refined products from Mombasa into the strategic terminal if we get a strategic partner immediately before the refinery comes on board.”
For more information, visit: www.unoc.co.ug
13th Apr 2018