A memorandum of understanding between Uganda and China has been signed for three proposed investment projects.
The three projects – the construction of the East African-China Manufacturing, Trade and Exhibition Centre in Kampala; an abattoir in South Western Uganda; and Kampala Metropolitan Rapid Bus Transport – will cost a whopping $265m (about Shs 967bn).
State Minister for Animal Industry Joy Kabatsi signed the deal on behalf of the Government of Uganda while the Chief Executive of East Africa International Trade Company, Wang Shujun and Executive Director of Wanton Think Tank Lijun He and Jing shi, an outstanding entrepreneur, signed on behalf of the Chinese investment group.
President Yoweri Museveni and the Chinese envoy to Uganda, Ambassador Zheng Zhugiang, were witnesses to the deal inked at State House, Entebbe.
The largest chunk of the deal, Shs 730bn, will go to the establishment of East African-China Manufacturing, Trade and Exhibition Centre on a 355,000 Square Metre piece of land in Bugolobi.
About Shs 92bn (S$25m) will be spent on an abattoir project in South Western Uganda, with more than 200 cows expected to be slaughtered daily.
ENTER KAMPALA METROPOLITAN RAPID BUS TRANSPORT PROJECT
The third project is meant to bring order to the chaotic transport system in Uganda’s capital Kampala.
This will see 26 bus stations and six bus terminals established.
The project will cost about Shs 146bn ($40m).
According to Museveni, there was need to “rationalize the transport system in Kampala in order to decongest the City”.
On what the fate of boda bodas and taxis would be, Museveni hinted meeting and encouraging the owners, drivers and riders to buy shares in the transport company.