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Government to buy eight cargo planes
The Uganda Airlines airbus on arrival at Entebbe airport on February 2, 2021. The old management of the national carrier has previously been plagued by corruption allegations. PHOTO/ABUBAKER LUBOWA
What you need to know:
- Asked why he chose to invest in Uganda and how much he is bringing into the country, the Dubai Prince said Uganda has several investment opportunities but for him, he is focusing on oil refinery and Air Cargo.
Uganda will boost the aviation sector with eight new planes, Monitor has learnt.
A member of the Dubai royal family, who is also a prominent businessman in the United Arab Emirates, says he has already delivered one cargo plane while another seven are on their way into the country.
Addressing journalists at his arrival at Entebbe International Airport at the weekend, Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, revealed that they had struck a deal with Uganda Air Cargo (UAC) and the Uganda National Oil Company to construct an oil refinery in Hoima.
He said the company will be processing 60,000 barrels of oil daily.
“The first plane arrived and it will help take the goods of Uganda abroad. The first aircraft is here others will soon be arriving,” he said.
Asked why he chose to invest in Uganda and how much he is bringing into the country, he said Uganda has several investment opportunities but for him, he is focusing on oil refinery and Air Cargo.
Mr Robert Mukiza, the executive director of Uganda Investment Authority, who received him at the airport, said the Dubai Prince decided to make Uganda the anchor for his investments after identifying opportunities in the country.
Sheikh Mohammed jetted into the country together with two of his business partners, Mike Douglas and Jaideep Mirchandandi in a private jet to attend the 35th Heroes’ Day celebrations on Sunday in Gomba District. The Prince of Dubai was one of the awardees of the Distinguished Honor of the Order of the Crested Crane First Class.
Mr David Fungo Wamai, the director of finance for UAC, confirmed last evening that they have received a Boeing 737-400 cargo plane and they are expecting the others six after signing a Memorandum of Understanding with the Sheikh’s company Alpha MBM on May 23.
“This is a good development because we have been relying on belly cargo to export fresh fruits, vegetables, fish and beef. Ugandan exporters can now export big volumes of these at a lower cost,” he said.
