RT wins $4bn Uganda refinery contract

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RT wins $4bn Uganda refinery contract

A consortium led by Russia’s RT Global Resources has been awarded a $4bn contract from the government of Uganda to build and operate a crude oil refinery in Uganda.

RT Global Resources, which is owned by Russian defence conglomerate Rostec, leads a consortium including Russian oil producer Tatneft, VTB Capital, South Korea’s GS and Telconet Capital.

The refinery, which is the first in the country, intends to process Uganda’s hydrocarbon reserves which stand at 6.5 billion barrels, along its border with the Democratic Republic of Congo.

The facility will have a processing capacity of 60,000 barrels per day, down from the government’s original plan of 120,000 barrels per day. It is expected to start with an initial output of 30,000 barrels per day in 2018.

The refinery’s private developer will hold a 60% stake, while the remaining stake will be held by the government.

The government will start negotiations with the RT consortium in March on the terms of a joint venture to engineer and fund the refinery as well as a product pipeline and associated infrastructure.

Source: World Construction Network

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Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.