US EditionUganda National Oil Secures $2 Billion Loan From Vitol Bahrain
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Watchdog Uganda
Online news from Uganda and the East African region - SoftPower NewsUNOC secures financing to accelerate development of strategic national infrastructure projects and investments
Following Parliamentary approval of the proposal for the Uganda National Oil Company (UNOC) to borrow up to US$ 2 billion financing over 7 years from Vitol Bahrain E.C to finance strategic national infrastructure projects and investments, the Parties have today executed the financing agreements. The financing will unlock key projects across the petroleum value chain, including the greenfield storage in Namwabula- Mpigi District, expansion of pet…
Uganda signs $2bn deal to boost oil infrastructure
Uganda National Oil Co. signs a $2 billion loan with Vitol Bahrain to fund major infrastructure, including a new fuel pipeline and storage terminals. KAMPALA — Uganda’s state-owned oil company has signed a $2bn (£1.5bn) deal to fund major infrastructure projects designed to turn the country into a regional energy hub. The Uganda National Oil Company (UNOC) will borrow the funds from Vitol Bahrain over a seven-year period. The move follows approv…
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