Uganda: New consortium revives refinery scheme

The government says it has agreed core project terms with a new consortium to develop its controversial refinery project. The Ministry of Energy and Mineral Development said the Albertine Graben Refinery Consortium was made up of GE Oil & Gas, US developer Yaatra Ventures, and a company named as Intracontinent Asset Holdings, with Saipem as engineering, procurement and construction partner. “The consortium has proposed to government a financing approach and a path to establish, develop and operate a commercially viable refinery company with a strategic benefit to the country and the region,” a ministry statement said.