Speaking during the Invest in Uganda panel sponsored by Uganda National Oil Co. (UNOC) at African Energy Week (AEW): Invest in African Energies 2025 in Cape Town, South Africa, Mugerwa confirmed timelines for the project and outlined progress made to date.
The refinery will be constructed in Kabaale, Hoima District, following a March 2025 agreement between UNOC and UAE-based investment firm, Alpha MBM Investments. The US$4 billion, 60 000 bpd facility will be jointly financed by the companies, with UNOC contributing 40% and Alpha MBM providing the remaining 60%.
Mugerwa stated: “This project goes beyond fuel production – we are looking at petrochemicals, kerosene, fertilizers, and gas processing. The refinery is designed to capture the full value chain.” He added that development of the industrial park is underway, supported by US$3 - 4 billion in investment, with the potential to attract a further US$1 - 2 billion.
Mugerwa emphasised the scale of supporting infrastructure required for the industrial park, noting progress on roads, water facilities, and high-voltage power supply of 200 MW. “Around 15 investors have already committed to the park, which will boost infrastructure and create an ecosystem around the refinery,” he said. Regional benefits are also expected, with products destined for neighbouring markets in Tanzania and the Democratic Republic of the Congo (DRC).
Other panellists stressed that Uganda offers a competitive environment for investors. Humphrey Asiimwe, CEO of the Uganda Chamber of Energy and Minerals, listed Uganda’s advantages for investors: “There is peace, security, a young population, and a stable currency. If you invest here and bring in equipment, import tax is 0%. Plus, you gain a springboard to markets in Tanzania, Kenya, and the DRC. If it is not Uganda, where else would you invest?”
Irene Bateebe, Permanent Secretary, Ministry of Energy and Mineral Development, highlighted infrastructure as a driver of growth: “We are developing railways and expanding our diversified energy portfolio to 10 000 MW, including hydro, solar, and nuclear. We have committed US$5 billion for power infrastructure.”
Philips Obita, GM Upstream at UNOC, detailed the company’s upstream and midstream initiatives: “As a national oil company, we hold commercial interests of up to 150 000 bbl and are participating in the EACOP pipeline. Oil and gas are finite resources, so we are investing in local content, technology transfer, and developing capacity to manage exploration and infrastructure ourselves,” he said. “We are also advancing five exploration projects and geophysical services, with seismic studies scheduled for completion in November 2025.”
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