Uganda oil pact a potential boon for Tanzania, EAC

This agreement will see the construction of a crude oil refinery in Hoima District with a capacity of 60,000 barrels per day. PHOTO | COURTESY

Dar es Salaam/Kampala. Uganda has finalised an agreement with Alpha MBM Investments, a consortium based in the United Arab Emirates and led by Sheikh Mohammed Bin Maktoum, to develop a refinery in Kabaale, Hoima

The district, has a capacity of 60,000 barrels per day. This significant deal is expected to benefit Tanzania and other member states of the East African Community (EAC).