Business
Four companies submit proposals for development of Uganda’s oil refinery
Kabagambe said an evaluation team comprising of representatives from government together with government’s transaction advisor, TaylorDeJongh, will undertake a detailed evaluation of the proposals during June 2014. The evaluation process is expected to take one month and after which, results will be announced. Negotiations are expected to be concluded by the fourth quarter of 2014.
“The evaluation criteria will include the overall technical experience, financial capacity, the development, financial and commercial plans submitted by the bidders. One of the government’s objectives is to select an investor that will develop a refinery to convert Uganda’s waxy crude oil into the desired petroleum products that meet set standards”, Robert Kasande, the refinery project manager in the ministry of energy said.
The technical evaluation will include an assessment of the Project Implementation Plan, relevant experience, operational plan, and local content strategy. The bidders are expected to detail their health, safety, security and environment protection strategy together with a financial plan, which should outline the estimated capital costs of the project, how the investor will raise the required financing for the project, crude oil acquisition strategy and product sales plans.
Source: New Vision
