Uganda’s refinery: Investors to express interest next month
Prospective investors eyeing Uganda’s oil refinery will be pleased to learn that the government plans to invite them to express their interest in the project by the end of next month, according to a statement from the Ministry of Energy and Mineral Development.
“Several investors have expressed interest in developing the refinery and the Ministry plans to put out a request for qualification before the end of September 2013 for potential investors to formerly express interest in partnering with Government to develop Uganda’s refinery,” read the statement.
The spokesman of the Petroleum Exploration and Production Department (PEPD) in charge of the refinery project, Bashir Hangi, told Oil in Uganda that the Ministry of Energy is currently in the process of developing a model that is suitable for the country before laying out terms for the contractor.
“We are in the process of looking at the best practices around the world so that we come up with a high breed model,” he said. “We are looking at the Trinidad and Tobago model, the Norwegian model, among others, to come up with a more superior model.”
The construction of the initially 30,000 barrels per day (bpd) refinery in Hoima district is planned to start in 2016.
Government contracted US energy investment firm, Taylor DeJongh, as transaction advisor for the project.
The firm is supporting the government in sourcing for the lead investor and financing for the refinery, which will be developed on a public-private partnership basis.
(This story has been updated following clarification from the PEPD. We regret any confusion the original story could have caused-ED)
Report by FN