Lake Victoria Logistics, Equity Bank Uganda to mark start of major oil facility today

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni will this afternoon officially launch the Lake Victoria Logistics facility, that will transform Uganda’s fuel transportation and storage capabilities.

“This ground breaking project on Lake Victoria will greatly enhance our nation’s oil and gas sector, promising a brighter future for fuel transportation to Uganda,” Equity Bank Uganda said in a statement.

The Equity Bank Group has been one of the main providers of credit facilities for the project put together by Mahathi Infra Uganda Limited.

The regional bank provided credit facilities through Equity Bank Uganda that has enabled financing of, a Petroleum tankage, that will ensure the country achieves adequate capacity to store significant quantities of fuel; A state-of-the-art jetty infrastructure extending 256 meters, and two tanker ships.

The new petroleum tankage will ensure ample fuel storage in the country, as two tanker ships are able to deliver Seven  million liters of fuel, exceeding Uganda’s daily consumption of 6 million litres.