• Thu. Sep 28th, 2023

UDC to Fund Half of the Cost to Setup Cement Marble Factory in Karamoja

UGANDA, Karamoja | Real Estate News | Saboo Group, Savannah Group, and Uganda Development Corporation (UDC), an investment arm of the Ugandan government have collaborated to set up a cement marble factory in Karamoja. The factory will produce cement, lime, and marble.

Dr Patrick Birungi confirmed the government’s commitment to the project, revealing that UDC is putting up 50 per cent of the US$150 million required.

During a visit to Loyoro, Dr Patrick said, “these activities are in two parts. The first one is here in Loyoro and this is an exploration part.”

He added, “this is not the beginning. We started a long time ago. Thus, all areas have been marked and there are several holes to be drilled here. At the moment, 13 holes have been marked and so far, we are on hole number 5 out of 13 holes. So far, 4 out of 5 holes have shone brilliant prospects. One of them goes as far as 50 meters down and we have not yet gone to other marked areas and so we think that the potential is much more.”

According to officials from the Department of Geology at the Ministry of Energy and Mineral Development, one hole has the potential to sustain exploration for over 20 years.

When asked about when the project will start, Dr Birungi said that the plan is to start with an investment phase in the financial year 2022/2023. This phase would last for three years.

“We agreed that the financial year should be paperwork. Beyond that should be the investment phase. We think the investment phase will take 3 years both here and in Moroto,” said Dr Birungi.

Two hundred twenty-one acres of land in Nadunget have already been secured for the project. UDC has the land title. Moroto district local government donated the land.

David Pulkol, a Moroto district local government representative, says in return for offering the land, UDC is giving them shares in the company.

Not only that, according to Cornelius Kodet Lorika of Savannah Group, they compensated the locals for the land to the tune of USh 500 million.

When the factory starts operating and making money, locals (the 150 families) will receive 5% revenue from Moroto District local government.

The factory, called Ateker Cement Factory, will be the first factory in Karamoja Region.

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