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Planned US$ 15 – 20 billion investment after FID will facilitate Uganda’s GDP growth by 22%, create 60, 000 jobs – Energy Minister Nankabirwa

By Marvin Ocol

Tomorrow, Petroleum Industry giants TotalEnergies and CNOOC Ltd will at Kololo Ceremonial Grounds announce the Long Awaited Final Investment Decision (FID).

According to Energy Minister Ruth Nankabirwa, preparations are in high hear as this ceremony will be graced by President Yoweri Museveni and hisTanzanian counterpart Suhulu Samia and other high level guests and other stakeholders.

An estimate of $3Bn investments is expected this year and $15Bn and $20Bn in the next 3 to 5 years, Nankabirwa said adding that the planned $15-$20Bn investment after the FID will facilitate Government of Uganda’s GDP growth by 22% and also unlock over 60,000 Jobs where over 57% will be given to Ugandans, attracting $48m Annually.

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