Uganda in talks with UAE investment firm over planned $4 billion oil refinery

A crude oil refinery. Uganda is seeking funding to have its oil refinery up and running in 2027. PHOTO | AFP

Uganda is negotiating with an investment company led by a member of Dubai's royal family to develop a planned $4 billion refinery for some of its crude oil, its energy minister said on Tuesday.

Uganda in July last year terminated negotiations with a consortium that included a unit of US firm Baker Hughes over its failure to mobilise financing in time.