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The USD 4 bn, 60,000-barrel-per-day facility will be jointly financed by the companies, with UNOC contributing 40% and Alpha MBM providing the remaining 60%.
| Uganda’s oil refinery is scheduled to begin operations in the fourth quarter of 2029 or the first quarter of 2030, according to Michael Nkambo Mugerwa, General Manager of Uganda Refinery Holding Company. Speaking during the Invest in Uganda panel sponsored by Uganda National Oil Company (UNOC) at African Energy Week (AEW): Invest in African Energies 2025 in Cape Town last week, Mugerwa confirmed timelines for the project and outlined progress made to date. The refinery will be constructed in Kabaale, Hoima District, following a March 2025 agreement between UNOC and UAE-based investment firm, Alpha MBM Investments. The USD 4 billion, 60,000-barrel-per-day facility will be jointly financed by the companies, with UNOC contributing 40% and Alpha MBM providing the remaining 60%. Mugerwa stated, Development of the industrial park is underway, supported by USD 3-4 billion in investment, with the potential to attract a further USD 1-2 billion. Read Also: https://trendsnafrica.com/groundbreaking-usd-4bn-refinery-deal-between-uganda-and-uae-investor/ Mugerwa emphasized the scale of supporting infrastructure required for the industrial park, noting progress on roads, water facilities, and high-voltage power supply of 200 MW. “Around 15 investors have already committed to the park, which will boost infrastructure and create an ecosystem around the refinery,” he said. Regional benefits are also expected, with products destined for neighboring markets in Tanzania and the Democratic Republic of the Congo. |
