Uganda's President Yoweri Museveni on Tuesday made an urgent plea to President Uhuru Kenyatta to declare the holder of its Kshs.7.4 Billion stake in an oil refinery that is supposed to be undertaken by the East African countries.
Speaking during the 14th Summit of the Northern Corridor Integration Projects in Nairobi, Museveni disclosed that Kenya was holding up the deal by taking too long to name its shareholder.
“We have limited time to make an investment decision on this project. I would like to remind Kenya to name its shareholder in the project as promised during the 13th summit held in Uganda in 2016. The project holds a great future to this region,” he stated.
[caption caption="Presidents Uhuru Kenyatta and Yoweri Museveni during the 14th Summit of the Northern Corridor Integration Projects in Nairobi"]
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During the 13th summit, Kenya agreed to take 2.5 percent with Tanzania (8 percent) of Uganda's 40 percent.
Kenya is yet to give its feedback on which Ministry or government agency that will be a shareholder in the project.
Others issues to be discussed during the summit included the Standard Gauge Railway (SGR) which impressed the regional leaders.
They were particularly impressed by Kenya's commitment to the implementation of a modern railway network having completed and launched the first phase of the SGR from Mombasa to Nairobi and gone a step further to initiate the second phase from Nairobi to Naivasha.
“The Summit lauded the completion and commissioning of Mombasa-Nairobi section of the SGR in 2017 which is already transporting increasing number of passengers and cargo,” the leaders noted in a joint communique released at the close of the summit held in Nairobi.
Speaking at the close of the conference, President Kenyatta underscored the immense benefits of the joint interventions initiated under the NCIP since its inception in 2013.
“It is definitely good news for our citizens,” the President explained as he cited joint actions including the single customs territory that has resulted in reduced transit times and cost of goods.
[caption caption="Presidents Uhuru Kenyatta (R), Paul Kagame and Yoweri Museveni during the NCIP meeting on Tuesday at Safari Park Hotel, Nairobi"]
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Uhuru further assured his regional colleagues that Kenya will sustain the momentum in the timely implementation of the remaining phases of the SGR to reach the Kenya-Uganda border town of Malaba.
