NEWS– President Yoweri Kaguta Museveni is in Tanzania to attend an oil and gas meeting, and later hold bilateral talks with his Tanzanian counterpart Samia Suluhu Hassan.
President Museveni, gave a keynote speech during the private sector organised symposium that discussed opportunities presented by the 1,445 km East African Crude Oil Pipeline project.
Museveni and President Suluhu, discussed the progress of the US 3.5 billion dollar East African Crude Oil Pipeline Project which is expected to connect Uganda’s oil fields in Hoima to Tanzania’s port of Tanga.
Its reported that the project still faces financing challenges after some European lenders walked away from requests to finance it.
The East African Crude Oil Pipeline Project is expected to create over 5,000 jobs directly and over 20,000 others indirectly.
The symposium is a hybrid event has gather over 200 high-level private sector officials from both Uganda and Tanzania, and over 2,000 will follow the discussion virtually.