(Dec 21): Uganda National Oil Co (UNOC) said it secured a US$2 billion ($2.58 billion) loan from Vitol Bahrain EC to fund its strategic national infrastructure and investments over a seven-year period.
The loan will unlock key projects across the petroleum value chain, the Kampala-based company said in a statement on X. Key projects include the greenfield storage terminal in Mpigi District, near the capital; expansion of the petroleum terminal in Jinja, in the east; and products pipeline extension from neighbouring Kenya, it said.
Other national and regional logistics infrastructure in line with government’s economic transformation agenda will also be considered, UNOC said.
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