Public Management

Uganda : China to facilitate oil transport with a $134 mln road

Uganda : China to facilitate oil transport with a $134 mln road
Wednesday, 27 March 2019 16:53

China will build a 97-km road in Uganda, the Daily Monitor indicated this week.

According to the website, the new $134 million infrastructure includes three road axes namely Masindi-Biso, Kabaale-Kizirafumbi and Hohwa-Nyairongo-Kyarushesha-Butole road. It should be realized by the China Railway Seventh Group and completed within three years.

It is part of a network of more than 700 km roads the country plans to build to link to its oil site that will enter into production by 2021. The project also wants to employ the local workforce and value local entrepreneurs. According to Allen Kagina (photo), director of the national road authority (Unra), about 30% of the works in the framework of that road project will be entrusted to local firms.

"The contract agreement between Unra and the China railway seventh group involves the latter pre-financing and executing works for a period of 12 months from the commencement date while the government of Uganda secures funds for paying the works to be executed," the official added.  

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Kenya’s foreign exchange reserves increased to $14.59 billion on March 5, up from $12.53 billion a week earlier. The reserves now...
FCMB Group has raised capital to meet the Central Bank of Nigeria’s new requirements. The recapitalization combined a public share offer and a partial...
IFC plans a guarantee facility of up to $50 million for Nairobi-based reinsurer ZEP-RE. The mechanism aims to strengthen the company’s credit...
An IMF delegation completed a 10-day mission in Libreville to review Gabon’s economic situation. The institution welcomed recent reforms but urged...
Most Read
01

Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...

Ethiopia’s State-Owned Telco Teams Up With Ericsson to Expand and Upgrade Its Network
02

The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...

BCEAO Cuts Key Rate to 3.00% as WAEMU Faces Deflation
03

Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with...

Nigeria Advances Banking Reform With Strong Recapitalization Progress
04

EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...

EIB Commits €1 Billion to Renewable Energy Under Africa’s “Mission 300” Initiative
05

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.