Rostec’s victory in this tender is the first such achievement by Russian companies in Africa… Transfer of Russian technology will be carried out through the tasks settlement, RIA quotes the Rostec announcement.

It will be the first oil refinery to be in-built Uganda. It’s strategically vital for Uganda “since the country has no access to the sea and its financial system is experiencing a big dependence on external suppliers, Rostec added.

Read Extra: Russian oil seems to Africa: Rostec bids for first $3bn Uganda refinery

When accomplished in 2020, the refinery is expected to have a capability of 60,000 barrels a day. The facility can be located in the Western a part of the nation, not far from Lake Albert. Forty p.c of the fee will come from the Uganda government and 60 percent from the investor, in accordance with the phrases of the tender. The enterprise will produce gasoline, kerosene, diesel and aviation gasoline, as well as liquefied petroleum gas and heavy oil merchandise.

The mission will not be only important to Uganda, but also for neighboring countries.

“The undertaking will strengthen relations between Russia and Uganda and can present a great basis to promote Russia’s pursuits in East Africa as a complete. Worldwide contractors with probably the most aggressive applied sciences and the experience of related initiatives will likely be concerned. However, advanced Russian applied sciences can be a priority, and this can help boost excessive-tech exports, Sergei Chemezov, CEO of Rostec said.

The oil refinery tender involved seventy five candidates, many amongst the biggest worldwide firms in the sphere of oil and natural gas growth. Six consortia had been admitted to contest for the tender but solely two had been invited to take part in the final stage of negotiations with the government, the Russian consortium led by Rostec and a South Korean consortium led by SK Vitality.

Rostec is to be a developer and coordinator of the venture. VTB Capital will act as monetary associate, and engineering providers will be offered by Tatneft.

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