By Our Reporter
Talks and a signing ceremony of the East Africa Crude Oil Pipe Line (EACOP) tripartite project are under way at State house Entebe after the arrival of Tanzanian President Suluhu Hassan early on Sunday.
At Entebe International Airport, Suluhu was welcomed by foreign affairs minister Sam Kutesa who later led her to State house Entebe where President Museveni welcomed his visitor.
Today’s signing of the EACOP gives hope that within four years, commercial production will commence.
At least Shs. 45 trillion is anticipated to be spent before commencement of commercial oil production. Shs 3.3 trillion will be used to develop 700 km roads in the oil districts, while Shs 2.9 trillion is being spent on the airport. The 1,440 km East African Oil pipeline will consume Shs.13 trillion and Shs 24trillion will develop E&P Total’s Tilenga Oil Project.
Do you want to share a story, comment or opinion regarding this story or others, Email us at email@example.com Tel/WhatsApp........0726054858