Tanzania, Uganda To Raise Over $7bn To Fund Oil Pipeline Projects

Uganda's energy minister Irene Muloni Uganda's energy minister Irene Muloni

A new report shows Tanzania and Uganda’s oil and pipeline projects will top this year’s infrastructure transactions in the region, with the two countries seeking more than seven billion dollars funding for the projects.

Debtwire’s Africa project finance trend update for this year says the oil and infrastructure sectors are the most likely to attract interest from investors and financiers this year.

Tanzania’s three and a half billion dollar joint east Africa crude oil pipeline project is expected to top the infrastructure transactions.

Energy Minister, Irene Muloni, hinted last week that production is likely to start in 2022, a slight delay from the revised date of 2021.

Uganda discovered crude reserves more than ten years ago, but production has been repeatedly delayed by disagreements with field operators over taxes and development strategy.

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