The Minister of State for Finance incharge of Investment Hon Anite Evelyn, Uganda Investment Authority (UIA) board member Morrison Rwakakamba and Hon. Mike Mukula have said the Fuel Storage Terminal and Transport System under construction at Bugiri-Bukasa will ease fuel transportation between Uganda and Kenya.
The Minister together with Capt. Mike Mukula, the chairman of Mahathi Infra Uganda Limited and UIA board member Morrison Rwakakamba yesterday inspected the fuel storage terminal and lake Victoria fuel transport system in Bugiri-Bukasa along Lake Victoria.
The project, which was recently commissioned by H.E Yoweri Kaguta Museveni will store up to 70 million litres of fuel making it one of the largest fuel terminals in East and Central Africa.
Upon completion the costs of transporting petroleum products are likely to drop by almost 50%.
The Fuel terminal and transport system will help ease transportation of fuel between Kenya and Uganda since the Kenya has a fuel terminal at Kisumu on Lake Victoria.
Petroleum products transported by road are quite costly and susceptible to adulteration and accidents.
Anite said the transport system will also ensure reliability in petroleum supplies, provide direct employment to both Ugandan and Kenyan citizens and indirect employment to many due to development of ancillary industries.
The project will also help provide skill development of local persons in marine and mechanical sectors.