President Yoweri Museveni held a meeting with the leadership of General Electric (GE) consortium, a statement and pictures released statehouse in Entebbe confirmed. The brief stated said GE exhibited ‘commitment to long-term cooperation with Uganda to construct an oil refinery in the country.’
The Vice-President and Chief Executive Officer of General Electric Oil and Gas in Sub-Sahara Africa, Mr. Ado Oseragbaje, led the consortium delegation. They were selected by ministry of energy to build a refinery in Hoima, western Uganda.
The consortium comprises General Electric (GE), YAATRA Ventures LLC, Intra-Continent Asset Holdings Ltd (IA) and Saipem SpA. Their major roles as partners involve Engineering, Procurement and Construction.
President Museveni told the meeting that Uganda is committed to the establishment of an oil refinery project that is cost effective, technologically sound and profitable to both the Government of Uganda and capital market investors; leading to the creation of job for the people of Uganda.
Mr. Ado Oseragbaje, on his part, said that the Consortium is committed to investing in Uganda. He noted that when the refinery project is completed, it will not only be an asset to Uganda but also to Africa.