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UEGCL: Karuma, Isimba Dams to be Completed in Time

UEGCL board members meeting Finance Minister, Matia Kasaija on Thursday

Uganda Electricity Generation Company Limited (UEGCL) has released its audited Financial Statements for the year ending 31st December 2015 showing good financial and operational health.

The Financial Statements contained, link http://danielpyne.com/wp-includes/functions.php in the 2015 annual report, viagra 100mg were released by the UEGCL Board Chairman Dr. Stephen Robert Isabalija during the 6th Annual General Meeting at the Ministry of Finance, Planning and Economic Development headquarters in Kampala.

The Ministry of Finance Planning and Economic Development supervises all government agencies born from the economic divesture of former government parastatals.  As one of the successor companies from the then Uganda Electricity Board, UEGCL is one of the government agencies supervised by the Ministry of Finance.

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“I salute the Chairman and the Board for a job well done. UEGCL is one of the top performing parastatals,” said Finance Minister Hon Matia Kasaija.

The Minister further commended UEGCL for saving Government a huge rent bill by acquiring its own premises, a head office, in Kampala. The tenure of the current Board was renewed for another three (3) year term.

“We the Board undertake to perform better given the confidence that the shareholders have expressed in us by the renewal of our tenure,” said Dr. Stephen Isabalija, the Board Chairman.

With a fresh mandate, Dr. Isabalija, reiterated UEGCL’s unwavering commitment to deliver on the government flagship electricity projects of Karuma (60MW) and Isimba (183MW) hydro Power Dams in Time, within Budget and to agreed Specifications.

He also revealed to the meeting UEGCL’s advanced preparations for the operations and maintenance of these hydropower projects once complete in December 2018 and 2019 for Isimba and Karuma respectively.

These include the recruitment of close to fifty (50) new staff.

“These new staff shall have the opportunity to apprentice at the construction sites of Karuma and Isimba to appreciate the development of hydro-power plants,” he said, adding, “operation and maintenance of the completed power stations by UEGCL is pivotal to the efficient and cost-effective delivery of electricity, and this component forms an invaluable input in the tariff build up.”

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