Uganda and Algeria have signed two cooperation agreements and five Memoranda of Understanding in different areas.
They include an agreement between Sonatrach, the national oil company of Algeria, and the Uganda Oil Refinery Holding Company Ltd with the aim of participating in the development of Uganda’s refinery.
Among the areas to be agreed on is for the Algerian parastatal to acquire a stake in the Ugandan company, which is yet to receive financing to commence construction.
Dr. Michael Mugerwa, the General Manager of Uganda Refinery Holding Company, and Sonatrach Chairman and CEO, Toufik Hakkar each signed for their respective countries. The MoU covers oil and gas cooperation-Upstream, Midstream (refining and petrochemicals), Downstream, capacity building, and Oil & Gas Services.
This is part of the outcomes of the three-day state visit by President Yoweri Museveni who also led a delegation of government officials and private sector representatives. Sonatrach’s core activities include research, production, transport and development, and Marketing of Hydrocarbons.
Other MoUs signed are for cooperation in the field of trade, higher education, and scientific research. Other agreements were in the areas of energy, agriculture, and animal health. During the meeting, between the delegations, it was revealed that at least 150 Algerian representatives of private and public organizations are to visit Uganda soon to explore business opportunities.
Uganda is hoping to increase its agricultural exports to Algeria.
Late last year, after a meeting with the Algerian Ambassador to Kampala, Museveni said that the country had shown a willingness to buy powdered milk from Uganda worth US $500 million.
Frank Tumwebaze, the Minister of Agriculture, Animal Industry and Fisheries said apart from milk, the MoUs signed cover several other items, like education, animal health, oil and gas, tourism, and trade.
