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Here’s when Stanbic expects $2.5 bln debt deal for Uganda’s oil pipeline to conclude
Uganda and Tanzania signed an agreement in May last year to jointly develop a pipeline described as the longest electrically heated crude oil pipeline in the world.
By
Reuters
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November 21, 2018
0

KAMPALA (Reuters) – Stanbic Bank Uganda, lead arranger for the East African nation’s $2.5 billion debt for a crude oil pipeline, expects the deal to conclude in June next year, its chief executive said on Wednesday.

Uganda and Tanzania signed an agreement in May last year to jointly develop a pipeline that has been described as the longest electrically heated crude oil pipeline in the world.

Stanbic Uganda, a unit of South Africa’s Standard Bank Group, secured the role of joint arranger and adviser together with Japan’s Sumitomo Mitsui Banking Corp.

The pipeline will cost a total of $3.5 billion, with the balance coming from shareholders in equity.

Patrick Mweheire, Stanbic’s CEO, said it had engaged in talks with other lenders in Europe, Japan and China and that “they have all been extremely positive”.

“People like the project … the economics of the pipeline make a lot of sense. I think we are looking at some time in June next year for financial close,” he said in an interview.

Covering a distance of 1,445 km, the 24-inch diameter pipeline will start near the oilfields in western Uganda and terminate at Tanzania’s Indian Ocean seaport of Tanga.

Landlocked Uganda discovered crude oil reserves estimated at 6.5 billion barrels more than a decade ago.

France’s Total, owns the fields alongside China’s CNOOC and Britain’s Tullow.

Uganda’s government hopes production will start in 2020 after repeated delays but Total and CNOOC, joint developers of the fields, have said output is likely to start a year later.

Mweheire said Stanbic, which is Uganda’s largest lender, would create a unit to chase deals in financial technology, also known as fintech, to be unveiled in January. “The fintech (unit) … will allow us to have relationships with other fintechs, potentially buy into some of those fintechs that bring some value propositions that we need,” he said.

Stanbic, he said, was already in talks to with Africa e-commerce firm Jumia for a potential partnership, he said without offering more details.

Editing by Duncan Miriri and David Evans

Here's when Stanbic expects $2.5 bln debt deal for Uganda's oil pipeline to conclude - CNBC Africa
 
Tanzania Ports Authority set to build jetty in Tanga


ports.jpg

By George Sembony @TheCitizenTz news@tz.nationmedia.com

IN SUMMARY
  • Salama told the delegation led by the principal Transport Economist in Uganda’s ministry of Works and Transport, Mr Gerald Ekinu, that the project was currently at the stage of engaging a consultant, following the successful completion of a geotechnical survey.
https://mobile.thecitizen.co.tz/new...04482-4872086-format-xhtml-ut0w76z/index.html
Tanga. The Tanzania Ports Authority (TPA) is in the process of developing a modern jetty at Raskazone in Tanga City to accommodate petroleum product tankers of AFRAMAX size - from 80,000 to 100,000 Dead Weight (DWT).

This was revealed by Tanga Port manager Percival Salama in Tanga today when he briefed a delegation of Ugandan oil and gas stakeholders who visited Tanga to explore possibilities of using the Tanzania routes and ports in importing and transporting petroleum products.

Salama told the delegation led by the principal Transport Economist in Uganda’s ministry of Works and Transport, Mr Gerald Ekinu, that the project was currently at the stage of engaging a consultant, following the successful completion of a geotechnical survey.

Salama said that a total of 702,965.660 metric tonnes of petroleum products were handled at the Tanga Port and the number of tankers through the Tanga Port totaled 31.

He pointed out that the Raskazone facility was located offshore at the Raskazone peninsula, consisting of three mooring buoys, which is designed to handle oil tanker ships of up to 183 metres in length overall (LOA) with carrying capacity DWT of 45,000 metric metres.

He said that under a special arrangement, it could allow berthing of vessels measuring more than 183 metres. “Recently, the facility managed to anchor a vessel with length overall 220 carrying petroleum products for Zambia,” he said.

He added that by 2020, Tanga would be the only port allowing ships weighing from 100,000 to 200,000 tonnes to dock at the facility after expansion.

He said, however, that the Raskazone receiving depot or the oil products was owned by the Gulf Bulk Petroleum (GBP).

The port manager said that Uganda had a better chance of making Tanga the port of choice due to its potential to use a short time to load and offload cargo (two and a half days for 45,000 metric tonne tankers) with chances to avoid demurrage charges.

Speaking after the visit, Ekinu said they were impressed by the performance of the port and efforts to revive railway transport, which he said could reduce the costs of transporting oil fro and to Uganda.

He also spoke about the need for harmonisation of standards to have seamless movement of goods, citing regulations in charges. “There should not be barriers in transporting goods to and from any East African countries,” he said.

A representative of the Tanzania Railway Corporation, Mr Focus Sahani, said that the corporation had embarked on the rehabilitation of the Tanga – Arusha railway line in a bid to support the development of the Tanga Port.

Tanzania Ports Authority set to build jetty in Tanga
 
Here’s when Stanbic expects $2.5 bln debt deal for Uganda’s oil pipeline to conclude
Uganda and Tanzania signed an agreement in May last year to jointly develop a pipeline described as the longest electrically heated crude oil pipeline in the world.
By
Reuters
-
November 21, 2018
0

KAMPALA (Reuters) – Stanbic Bank Uganda, lead arranger for the East African nation’s $2.5 billion debt for a crude oil pipeline, expects the deal to conclude in June next year, its chief executive said on Wednesday.

Uganda and Tanzania signed an agreement in May last year to jointly develop a pipeline that has been described as the longest electrically heated crude oil pipeline in the world.

Stanbic Uganda, a unit of South Africa’s Standard Bank Group, secured the role of joint arranger and adviser together with Japan’s Sumitomo Mitsui Banking Corp.

The pipeline will cost a total of $3.5 billion, with the balance coming from shareholders in equity.

Patrick Mweheire, Stanbic’s CEO, said it had engaged in talks with other lenders in Europe, Japan and China and that “they have all been extremely positive”.

“People like the project … the economics of the pipeline make a lot of sense. I think we are looking at some time in June next year for financial close,” he said in an interview.

Covering a distance of 1,445 km, the 24-inch diameter pipeline will start near the oilfields in western Uganda and terminate at Tanzania’s Indian Ocean seaport of Tanga.

Landlocked Uganda discovered crude oil reserves estimated at 6.5 billion barrels more than a decade ago.

France’s Total, owns the fields alongside China’s CNOOC and Britain’s Tullow.

Uganda’s government hopes production will start in 2020 after repeated delays but Total and CNOOC, joint developers of the fields, have said output is likely to start a year later.

Mweheire said Stanbic, which is Uganda’s largest lender, would create a unit to chase deals in financial technology, also known as fintech, to be unveiled in January. “The fintech (unit) … will allow us to have relationships with other fintechs, potentially buy into some of those fintechs that bring some value propositions that we need,” he said.

Stanbic, he said, was already in talks to with Africa e-commerce firm Jumia for a potential partnership, he said without offering more details.

Editing by Duncan Miriri and David Evans

Here's when Stanbic expects $2.5 bln debt deal for Uganda's oil pipeline to conclude - CNBC Africa
Yani TOTAL aliwarai kujenga kana kwamba ilikua ni done deal, hao ndo financer kumbe mlikua mtabandikwa deni la $2.5B ! Since upande wa Tz ndo utakua na majority of the pipeline, Tz itapewa kama $1.7B ya Hilo deni! (Sawa na kujenga SGR nyengine from Dar-Moro)
 
Tanzania to construct international fishing port, saysminister
ippmedia.com/en/news/tanzania-construct-international-fishing-port-saysminister

November 30, 2018
30Nov 2018
The Guardian Reporter
News
The Guardian
Tanzania to construct international fishing port, saysminister
THE government has said that it is on the final stages to commence the construction of an international fishing port, which among others, will bolster deep sea fishing for the country’s development.

ulega%20(1).jpg

The deputy minister for Livestock and Fisheries, Abdallah Ulega​
The deputy minister for Livestock and Fisheries, Abdallah Ulega unveiled this week when he attended the first ever ‘Sustainable Blue Conference’ in Nairobi, Kenya.

Sustainable Blue Economy is a marine-based economy that provides social and economic benefits for current and future generations, restores, protects and maintains the diversity, productivity and resilience of marine ecosystems, and is based on clean technologies, renewable energy, and circular material flows.

According to him, the potential of fisheries sector has yet to be effectively utilised to bring positive impacts in the country.
“Under the plans, more fishing ships will be purchased to make it easier for deep sea fishing in the country and thus enable it compete internationally,” he said.

He also said that the construction of the port will also attract fishing ships from various countries to dock in the country thus creating employment opportunities to locals through fish processing factories that will be established.
“Investing in processing industries and storage facilities are therefore major opportunities to bolster revenues in the fisheries sector.”

He noted: “For a country’s sustainable economy, protection of ocean, rivers and lakes, environment remains critical…resources found in should also be protected. This is why Tanzania is doing all it can to ensure that resources are protected for sustainable development and the future generations.”

Ulega further said that Tanzania had great potentials for marine fisheries due to its rich marine natural resources as there is a readily available market for fish, given the large quantities of fish imported from abroad.

He added that the Sustainable Blue Economy Conference which brought participants from around the world was aimed among others things to harnesses the potential of oceans, seas, lakes and rivers to improve the lives of all, particularly people in developing states, women, youth and indigenous peoples.

Late last year, Ulega said that Tanzania imported at least 2,000 tonnes of mackerel fish from China owing to the decline in fish catches from the Indian Ocean waters.

He was speaking at Kilindoni village in Mafia District, Coast Region at the climax of marking World Fishing Day which was organised by the World Wildlife Fund (WWF).

According to him, available statistics show that fish catches in the country had declined to at least 360,000 tonnes in 2016 compared to 390,000 tonnes in 2012.
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