Uganda Nationwide Oil Co. stated it secured a $2 billion mortgage from Vitol Bahrain E.C. to fund its strategic nationwide infrastructure and investments over a seven-year interval.
The mortgage will unlock key tasks throughout the petroleum worth chain, the Kampala-based firm stated in a press release on X. Key tasks embody the greenfield storage terminal in Mpigi District, close to the capital; growth of the petroleum terminal in Jinja, within the east; and merchandise pipeline extension from neighboring Kenya, it stated.
Different nationwide and regional logistics infrastructure in keeping with authorities’s financial transformation agenda may even be thought-about, UNOC stated.
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