Uganda, Tanzania agree to build oil pipeline
Tanzania and Uganda have signed an agreement allowing for the construction of a 1,445 km (898 miles) crude oil pipeline.
The $3.5bn (£2.7m) project will connect Uganda’s oil fields to Tanzania’s port of Tanga. The signing ceremony was attended by the presidents of both countries.
1,443km crude oil export pipeline
216Kbd export flow rate barrels per day at plateau production
Over 60% increase in FDI of Uganda & Tanzania during the construction phase
$3.5 Billion USD investment
Over 500,000 tonnes of imported equipment
The East African Crude Oil Pipeline will unlock East Africa’s Potential by attracting investors to explore opportunities in the region. The Project will result to over 60% Increase in Foreign Direct Investment (FDI) in Uganda and Tanzania during the construction phase. Its success will be founded on the positive collaboration and understanding of all stakeholders.
Submitted by: Press
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