Government seeks sh120b for Bujagali
Sep 13, 2007
THE Government needs another $75m (sh120b) for the Bujagali Interconnection Project, and it intends to borrow $57m from foreign sources.
By Apollo Mubiru
THE Government needs another $75m (sh120b) for the Bujagali Interconnection Project, and it intends to borrow $57m from foreign sources.
The state finance minister, Fred Omach, yesterday asked Parliament to allow the Government borrow $28m from the African Development Bank and another $28m from the Japan Bank for International Cooperation.
The project would be for four transmission lines: a 220 Kilo Volts (KV) line from Bujagali to Kawanda, a 132 KV line from Kawanda to Mutundwe, a 132 KV line from Bujagali to Nalubaale station and a fourth line from Bujagali to Tororo.
It would also cover the construction of two 132 KV power stations, one at Kawanda and another Mutundwe. The loans would have to be paid back in 50 years. The Uganda Electricity Transmission Company will execute the project.
MPs, however, asked why the Government was borrowing the money for the company. They demanded to see the company’s books of accounts of the last three years before approving the request.
THE Government needs another $75m (sh120b) for the Bujagali Interconnection Project, and it intends to borrow $57m from foreign sources.
The state finance minister, Fred Omach, yesterday asked Parliament to allow the Government borrow $28m from the African Development Bank and another $28m from the Japan Bank for International Cooperation.
The project would be for four transmission lines: a 220 Kilo Volts (KV) line from Bujagali to Kawanda, a 132 KV line from Kawanda to Mutundwe, a 132 KV line from Bujagali to Nalubaale station and a fourth line from Bujagali to Tororo.
It would also cover the construction of two 132 KV power stations, one at Kawanda and another Mutundwe. The loans would have to be paid back in 50 years. The Uganda Electricity Transmission Company will execute the project.
MPs, however, asked why the Government was borrowing the money for the company. They demanded to see the company’s books of accounts of the last three years before approving the request.