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Uganda Confident China to Fund 600 MW Karuma Power Plant

KAMPALA Uganda--The Ugandan government is confident that China will provide funding to finance the construction of a 600-megawatt Karuma hydro-power plant on the River Nile, marking a major breakthrough for the long-delayed project, the state minister for energy and minerals development told Dow Jones Newswires Monday.The $2.2 billion plant is major development milestone for war-ravaged northern Uganda, which is slowly recovering from a two-decade civil conflict involving the rebel group Lord's Resistance Army, led by fugitive war lord, Joseph Kony."Very soon, we shall be starting negotiationsÛ we intend to enter a bilateral agreement with China for a concessionary loan for the project," said Simon D'ujang.The Chinese government offered to finance the project after a meeting between the Ugandan president, Yoweri Museveni, and Chinese President Xi Jinping on the sidelines of the BRICS summit in South Africa last month, Mr. D'ujang said. The Chinese embassy in Uganda was unable to commen...

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  1. Uganda's Oil Rights Auction Likely Delayed To 2013

    Uganda's next oil licensing round, initially expected later this year, will now likely only take place in 2013 after lawmakers Friday postponed a vote on two key bil...

  2. Uganda Central Bank Warns Of Risks On Oil Revenue Use

    KAMPALA, Uganda -( Dow Jones )- The governor of Uganda's central bank Monday warned against the swift use of oil money for capital projects, underscoring mounting te...

  3. Uganda Central Bank Warns Of Risks Of Swift Use Of Oil Revenue

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  7. Iran sanctions curb credit transfer to Uganda-memo

    By Elias BiryabaremaKAMPALA, Sept 15 (Reuters) - Uganda has been unable toobtain a $46 million credit offered by Iran because ofcomplications in transferring the mon...

  8. FACTBOX-Key political risks to watch in Uganda

    By Elias BiryabaremaKAMPALA, Sept 1 (Reuters) - Uganda expects to become an oil-producing nation in 2011, but a protracted dispute with British exploration firm Heri...

  9. Ugandan president to approve all oil, gas deals

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  10. Uganda's economic growth seen at 6.7 pct in 2010

    * Economic growth seen at 6.7 percent in 2010, 7 percent in 2011By Elias BiryabaremaKAMPALA, Aug 17 (Reuters) - Uganda's economy may expand by 6.7 percent this year ...

  11. FACTBOX-Rwanda's president Paul Kagame

    Aug 5 (Reuters) - A tough disciplinarian, Paul Kagame, 52, has been the main power in Rwandan politics since his rebel army ended the slaughter of hundreds of thousa...

  1. Uganda Reaches Deal With Oil Companies Over Refinery

    Special to DOW JONES NEWSWIRESKAMPALA, Uganda--The Ugandan government has reached an agreement with oil companies operating in its oil-rich Lake Albertine rift basin...

  2. Uganda: Close to Drilling Deal with International Oil Companies

    Uganda is close to an agreement over oil drilling in the Lake Albertine Rift basin, its president said late on Tuesday."We are now about to conclude an oil-and-gas e...

  3. Total Pushes For Uganda Crude Export Pipeline

    KAMPALA Uganda--France's Total SA (TOT) is pressing the Ugandan government to approve the construction of a crude export pipeline ahead of the planned development of...

  4. Uganda Hires US Firm Taylor-DeJongh to Advise on Oil Refinery

    Special to DOW JONES NEWSWIRESKAMPALA, Uganda--The Ugandan government has hired U.S.-based investment firm Taylor-DeJongh to advise on the construction of a $2 billi...

  5. Uganda Parliament Passes Second Oil Bill

    Special to DOW JONES NEWSWIRESKAMPALA, Uganda--The Ugandan parliament has passed the second oil bill, moving the East African nation closer to completing a new regul...

  6. Uganda Plans To Auction 13 Oil Blocks This Year-Min

    Special To DOW JONES NEWSWIRESKAMPALA Uganda-The Ugandan government is planning to auction at least 13 oil blocks in the Albertine Rift Basin this year as soon as th...

  7. Uganda Executive, Parliament Divided Over Oil Bill

    KAMPALA Uganda--A fresh rift has emerged between the Ugandan executive and parliament over proposed ministerial powers in the country's upstream oil bill, delaying t...

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