Uganda Inks Historic Oil Refinery Deal with UAE’s Alpha MBM Investments

The government of Uganda signed an oil refinery implementation agreement with Alpha MBM Investments LLC, a United Arab Emirates-based company.

The deal was formalized at State House Entebbe in the presence of President Yoweri Museveni, paves the way for the construction of a state-of-the-art crude oil refinery in Kabaale, Hoima District, with a capacity of 60,000 barrels per day.

The $4 billion project will be a joint venture between Alpha MBM Investments, which holds a 60% stake, and the state-run Uganda National Oil Company (UNOC), retaining the remaining 40%.

According to President Museveni, the oil refinery the isnt only about Uganda but it will help in exporting products.