The visiting Qatari delegation comprising Dr Hamad Saad Al and Eng Fahad Ali Al, from Hassad Foods and Energy Fund, has expressed interest in investing in the Ayago Power project in Northern Uganda.
This was disclosed when President Yoweri Museveni received the delegation on Tuesday this week who called on him at State House, Entebbe.
State Minister for Privatization and Investment, Hon. Anite Evelyn, attended the meeting.
The proposed 800 Mega Watt Ayago power project is sited on the Victoria Nile in Nwoya and Kiryandongo districts upstream of Murchison Falls National Park in Northern Uganda.
“President Museveni, who warmly welcomed the Qatari entrepreneurs, informed them that the NRM Government is working hard to ensure that the cycle of poverty is broken using different angles,” reads a press statement from State House.
Museveni said one of those different angles is the bringing into the country investors to build sustainable energy projects.
The President has in the last few years wooed deep-pocket businessmen from the Arab world to invest in Uganda’s infrastructure projects.
The proposed investment comes at the time Uganda is struggling with speculators in the energy sector.
ChimpReports understands Museveni recently directed Anite to coordinate the Uganda-Arab link to ensure the wealthy businessmen can easily access information and necessary facilities to invest in Uganda.
Museveni explained to the Qatar entrepreneurs that Uganda needs low cost power to support infrastructural projects with a view to empowering local communities so that they are able to improve their quality of life and break down the cycle of household poverty.
He informed his visitors that the Government is in the process of starting the construction of modern electric railway lines to Kenya and Tanzania so as to ease the transportation of goods.
Dr. Fahad Ali Al, on his part gave assurances that they are ready to come and invest in the country.
“We guarantee to invest in Ayago power plant. We also have interests in agricultural production in Nwoya district. Logistics of transportation of goods, therefore, is key to reviving the Ugandan economy,” he said.