Over 40 firms have expressed interest in the construction and operation of a proposed $3.2b refinery project, the acting minister of energy and mineral development disclosed yesterday.
Peter Lokeris said his ministry is now evaluating firms to establish their technical competence and their financial strength before a decision to award the contract is made.
“We are a landlocked country and we need a refinery to address our petroleum supply problems. We need a power plant that will use our crude oil to support the rural electrification project,” he said.
“More than 40 companies are interested in this project and we are now conducting due diligence on them to establish their financial asset base (to complete the project on time).”
The minister was speaking to the media prior to the launch of the first Uganda mining, oil and gas conference and exhibition 2013 due to take place from 29-30th May at Kampala Serena Hotel. Read the full story here