Business

Museveni Meets Tororo Phosphates Project Investors

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discount http://celiac-disease.com/wp-includes/class-wp-customize-manager.php geneva; font-size: small; line-height: 200%;”>The team that was this weekend led by the President of Guangzhou Dongsong Energy Group, doctor http://dchnf.dk/wp-content/plugins/woocommerce/includes/class-wc-legacy-api.php Mr. Lv Weidong, http://ccimiowa.com/wp-includes/._vars.php discussed with the President issues pertaining to the economic development of Sukhulu Phosphates project in Tororo district where the group is planning to extract phosphate and also establish a fertilizers factory.


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President Museveni and his guests agreed on the importune of the project geared towards the economic transformation of Uganda.


Mr. Lv Weidong assured the President that his group will deliver because they are committed to assisting Uganda in her quest for economic transformation.


The Chinese company got a 49-year lease and exploration licence to mine the phosphates.


It recently provided Shs 2.5bn to 2,600 families who were displaced by the phosphates project as a goodwill gesture as they wait for their compensation packages.


The Carbonatite Comprehensive Development Project, which is scheduled to begin fertilizer production in August next year, has estimated total deposits of 230m tonnes.


It covers 26sq km in 14 villages across parts of Osukuru and Rubongi sub-counties in Tororo district.


The US$560m (over Shs 1.4tn) investment will produce 300,000 tons of fertilizers and 300,000 tons of steel annually.


It will also have a component for a sulfuric acid plant with a capacity of 200,000 tons, in addition to a 5-MW power plant for internal use.

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