NEPAD eyes Uganda’s oil

Nov 15, 2006 01:00 AM

Uganda's oil discovery has caught many an eye, the latest being the New Partnership for Africa Development (NEPAD). NEPAD has expressed interest in partnering with Uganda in marketing and exporting oil.
NEPAD Executive Director Prof. Firmino Mucavele said this while addressing journalists after presenting a report to the sixth ordinary session of the Pan African Parliament in Midrand. He said NEPAD had prioritised the construction of the Nairobi-Kampala oil pipeline, to ease transport costs.

He said the road and railway network on the northern corridor traversing Kenya and Uganda had also been prioritised for construction. Mucavele said for such development projects to be undertaken by NEPAD, it required commitment by owning countries, availability of resources for sale and start-up resources.
"The first thing is to mobilise the national human and financial resources. Among our priority projects is the Kenya-Uganda oil pipeline, the Northern corridor and the East Africa road network thatjoins Tanzania, Uganda, Kenya and Rwanda," he said.

He said the pipeline would cost $ 110 mm.
"The funds have not been found but with recent oil discoveries in Uganda, we are looking at partnering and estimate that money from the oil will help facilitate the projects," he said.

Source: New Vision
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