Former Works, Transport and Communications Minister, John Nasasira, and Professor Peter Kasenene, the state minister for privatization negotiated the deal alongside other members of the joint concession steering committee.
Finance Minister, Matia Kasaijja announced the move to terminate the concession held by Qalaa Holdings of Egypt in his budget speech to parliament this afternoon.
The government of Uganda could join Kenya in the push to terminate Rift Valley Railways 25-year concession to run the Kenya-Uganda Railway. Sources at the Ministry of Works and Transport have indicated to Uganda Radio Network that Uganda is backing the Kenyan position on the way the concession to operate the metre-gauge railway in Kenya and Uganda has been handled.
A report published by the Economic Policy Research Center EPRC says that alternative financing other than official development assistance would stimulate growth and plug huge deficits in sectors like energy and transport.
Corporal Christopher Gomba and Corporal Mukholi Magombe were picked up on Thursday morning in an operation led by Jacob Opolot, the Elgon Regional Police Commander in connection to the destruction of the railway line in Pallisa district.
Workers of the Rift Valley Railways – RVR, the company that took over the defunct Uganda Railways, are on a sit-down strike demanding a salary increment and payment of their arrears dating back to five years.
