Warning: Trying to access array offset on value of type bool in /usr/www/users/urnnet/a/story.php on line 43
Gov't Seeks Approval of UGX 1.7 Trillion Loan for Oil Roads :: Uganda Radionetwork
Breaking

Gov't Seeks Approval of UGX 1.7 Trillion Loan for Oil Roads

Government is seeking a parliamentary approval to borrow 1.7 trillion shillings ($456m) from the Export-Import (Exim) Bank of China for the upgrade and Construction of National Oil Roads.
Mbale Nkokonjeru Road Two

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /usr/www/users/urnnet/a/story.php on line 663
Government is seeking parliamentary approval to borrow 1.7 trillion shillings from the Export-Import (Exim) Bank of China for the upgrade and Construction of National Oil Roads.   

The proposal was tabled in Parliament on Thursday by the Minister of Finance in- charge of planning David Bahati.   According to Bahati, they seek to achieve the oil target by establishing the enabling infrastructure, such as the road network.

He says, as a result, Government together with the oil partners identified several oil roads totalling to 700 kilometres which require to be upgraded. 

The Deputy Speaker Jacob Oulanyah forwarded the proposal to the National economy committee of Parliament to scrutinize the bill.     

The 12 oil roads are; Hoima-Butiaba-Wanseko Road, Hohwa-Nyaironqo-Kyarushesha- Road, Kabale - Kiziramfumbi road, Kabwoya-Buhuka all in Hoima districts.     

In Masindi districts, the roads are; Masindi-Biiso, Masindi-Bugungu via Murchison Falls National Game Park. In Buliisa the roads to be upgraded are; Wanseko-Buqunqu Road, Buqunqu – Buliisa.

Others are; Buhimba-Nalweyo-Kaki ndu-Kakumiro-Mubende found in Mubende, Kibaale, Lusali ra- Nkonge-Sembabule found in Ssembabule, Mpigi, and Masindi.

 

In Nwoya district, the roads are Tangi junction - Paraa Including Tangi Gate & Emmi Bridges and Karugutu-Ntoroko via Semiliki National Park in Fort portal.   

The construction of the roads will be done in six stages.   China Exim Bank will cover 85% of the commercial contract for each package and Government will finance 15 % under each of the package according to Bahati.        

Support us


Images 1

Keywords

Entities