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Citadel Capital mulling $2.5bn Uganda oil refinery investment
- Egypt: Wednesday, October 03 - 2012 at 02:12
Egyptian investment firm Citadel Capital is considering plans to invest in a proposed $2.5bn oil refinery project in Uganda, Reuters has reported. The move is part of a plan by the company to increase refining potential deals in sub-Saharan Africa. Uganda has outlined plans to build a refinery in Hoima, about 220km west of its capital Kampala, and in July the government said it was aiming to take up to a 40% stake in the plant with a private investor acquiring the remaining 60%.
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