Uganda has signed a $4 billion oil refinery deal with UAE-based Alpha MBM Investments LLC, paving the way for a 60,000-barrel-per-day refinery in Hoima District.
The agreement, signed on March 29, 2025, at State House Entebbe, was witnessed by President Yoweri Museveni. It grants Alpha MBM Investments LLC a 60% stake in the project, while the Uganda National Oil Company (UNOC) retains 40%.
President Museveni hailed the deal as a major boost for Uganda’s economy and warned against bureaucratic delays that could hinder investments. “I want to thank His Highness Sheikh Mohammed Bin Maktoum and our friends from the UAE for their commitment to investing in Uganda,” he said.
The refinery project includes a modern storage terminal in Mpigi District, a 212-kilometer multi-product pipeline, and a water abstraction facility to support operations.
Museveni emphasized the need to process Uganda’s natural resources locally. “This oil refinery is not just about fuel; it is about Uganda producing and exporting refined products instead of importing,” he said.
Energy Minister Ruth Nankabirwa said the project would create jobs, develop local expertise, and boost industries such as petrochemicals and fertilizer production. She assured compliance with international environmental and safety standards.
Beyond oil, Uganda and UAE investors signed agreements in aviation, tree planting, digital land management, logistics, and financial services.
Sheikh Mohammed Bin Maktoum, who led the UAE delegation, reaffirmed his commitment to Uganda. “As long as I am in Uganda, I consider myself Ugandan. My team and I are here to support the nation and its people,” he said.
The ceremony was attended by Finance Minister Matia Kasaija, Deputy Attorney General Jackson Kafuuzi, UNOC CEO Proscovia Nabbanja, and other senior officials.