On April 10 the Consortium AGRC – Albertine Graben Refinery Consortium (composed by Yaatra Africa, General Electric, Saipem Spa, Nuovo Pignone and Lionworks Group) signed a Project Framework Agreement (PFA) with the Government of Uganda for the construction of an oil refinery in Hoima.
The ceremony was chaired by the President of Uganda, H.E. Yoweri K. Museveni. The Ambassadors of Italy, H.E. Domenico Fornara, and of the United States, H.E. Deborah Malac, participated in the event together with high officials from the consortium’s companies. Uganda is represented in AGRC through the Uganda National Oil Company, while the Government’s counterpart of the consortium in the PFA signing was the Minister of Energy and Minerals, Hon. Irene Muloni.
The PFA paves the way to the implementation of a particularly innovative high-impact project: 4 billion US$ are expected to be invested in the coming years, with important inducts for the local economy.