Uganda in oil refinery talks with South Korean SK Engineering
ters) Uganda has begun negotiations with a consortium led by South Korea's SK Engineering for the building of a crude oil refinery and ended talks with a group led by Russia's Rostec Global Resources, the energy ministry said on Friday.
The Ministry of Energy and Mineral Development said the decision was reached to end talks with Rostec Global after it made additional demands to a deal reached in May, with it said was due to be signed in June.
"Consequently Government was left with no choice but to halt negotiations and draw the bid bond. Government is now proceeding to invite the Alternate Bidder - SK Engineering & Construction for negotiations," it said in a statement.
Reporting by Elias Biryabarema; Writing by George Obulutsa; Editing by Alexander Smith
Comments