Energy minister Eng. Irene Muloni says government will proceed with negotiations on the principle agreements with the RT Global Resources Consortium with an aim of reaching an agreement within 60 days. Other members of the consortium include Telconet capital Ltd partnership, VTB Capital PLC, Tatneft JSC, and GS Engineering and construction Corporation.
A press statement issued Wednesday afternoon by the Petroleum Exploration and Production Department (PEPD) in Ministry of Energy and Mineral Development indicates that SK Energy from South Korea and RT Resources from Russia had now concluded preliminary negotiations with the government and now had to make revised offers.
Only two consortia are in the running to secure a deal for the construction of Ugandaâ€™s oil refinery, the ministry of energy has announced. In a statement issued by the Ministry of Energy, two firms, China Pipeline Petroleum Bureau and Marubeni Corporation from China are nolonger in the running. The ministry says the proposal from Marubeni Corporation was not evaluated due to lack of a bid bond whereas China Pipeline Petroleum Bureauâ€™s proposal did not adequately satisfy all the requirements.
Local leaders say all they expected was for government to relocate the schools before the residents are compensated to leave the area. Patrick Biingi, the chairman Katooke village says it was wrong to compensate people before relocating the schools.