Hot cake: Over fifty firms queue for refinery
Over fifty firms have expressed interest in building and operating Uganda’s first oil refinery, a source has revealed to Oil in Uganda.
This follows a Request For Qualification (RFQ) that was issued by the Uganda government last month in which prospective investors had up to 7th November, 2013 to formally express their interest.
The Ministry has reportedly been aggressively promoting the refinery as well as the pipeline project internationally and has held meetings with some companies including South Korea’s Samsung Group, Hyundai E&C, Kuwait’s DAO Group, Danish Haldor Topsoe, Britain’s Vitol, Japan’s Marubeni Itochu Steel and Russia’s SAFINAT Group of Companies, among others.
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.
Report by Beatrice Ongode