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Government Cleared to Borrow Up to 108.5 Million Euros for Upgrade of Oil Roads

Posted: 2020-02-11T08:38:27Z Read: 615 times
Government Cleared to Borrow Up to 108.5 Million Euros for Upgrade of Oil Roads

Cabinet has approved the proposal to borrow up to Euro 108,521,152.60 (Euro One Hundred and Eighty Million Five Hundred and Twenty-One Thousand One
Hundred and Fifty-Two and Sixty cents) from the Industrial and Commercial Bank of China to finance the Masindi- Biiso, Kabaale - Kiziranfumbi and
Hohwa – Nyairongo – Kyarusesa - Butoole Road Upgrading Project.


Government spokesperson, Ofwono Opondo says the upgrading and constructiion of the national oil roads is set to facilitate the efficient development and production of the strategic national oil resources and enhance the tourism potential of Murchison Falls National park and the areas around, by provision of a sustainable upgraded paved road solution which addresses the challenges faced in transportation in the area.


At the regional level, the upgrade is also expected to add to the network of road infrastructure required for importation of plant and equipment for production from the seaport's, and movement of construction materials, workers and consumables from other parts of the Country.