Uganda National Oil Co. said it secured a $2 billion loan from Vitol Bahrain E.C. to fund its strategic national infrastructure and investments over a seven-year period.
The loan will unlock key projects across the petroleum value chain, the Kampala-based company said in a statement on X. Key projects include the greenfield storage terminal in Mpigi District, near the capital; expansion of the petroleum terminal in Jinja, in the east; and products pipeline extension from neighboring Kenya, it said.
Other national and regional logistics infrastructure in line with government’s economic transformation agenda will also be considered, UNOC said.
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