Uganda signs oil refinery pact

Tuesday 10th April 2018

President Museveni has challenged Western companies to take interest in helping Africa explore its resources potential, saying the continent presented immense business opportunities. 

"There is a lot of sleeping in Africa. You find people who should know but instead don't know," said the President. "And also there has been sleeping in the West, they don't care about what potential is in Africa." 

The President made the remarks at State House Entebbe as he witnessed the signing of the Project Framework Agreement between the government and the Albertine Graben Refinery Consortium (AGRC). 




While congratulating the parties to the agreement, President Museveni said the composition of the AGRC showed that Western companies were also waking up to realise Africa's potential.

"Africa and the West share a lot of history together and there is a need for them to use these past linkages to further economic business," said the President. 










The Energy Minister, Eng. Irene Muloni, said the signing ceremony marked the end of the selection process that commenced in January 2017.

She said her ministry had done extensive consultations before arriving at who to assign the project, estimated to cost between $3-4 billion. 

Eng Muloni saluted President Museveni for the guidance provided throughout the entire process.



The Italian Ambassador, Domenico Fornara, commended President Museveni for his counsel, saying the project would enhance Uganda-Italy business relations. 

Ambassador Deborah Malac of the US, congratulated the government upon conclusion of the selection process, saying she hoped more business opportunities would emerge for American companies after this project

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