Wednesday, August 2, 2017

Chinese Company Pulls Out of Ugandan Refinery Deal

The Independent (Kampala, Uganda) published on 31 July 2017 a detailed account titled "Chinese Quit Museveni's Refinery Deal" by Haggai Matsiko.

This is a well documented account of a $4 billion refinery project in Uganda won by a Chinese consortium that outbid American and Russian companies, among others. An important part of the consortium, China Petroleum Engineering & Construction Corporation (CPECC), has pulled out of the deal, which appears to have collapsed. In-fighting and intrigue is cited as the reason why CPECC pulled out.

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