China, Uganda sign $400m Masaka park deal

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The Government of Uganda has signed a memorandum of Understanding with the Chinese communications Construction Company to construct Masaka industrial Park in Masaka Bukakata Subcounty.

In the memorandum signed today at the office of the Vice President in Kampala, Government will extend utilities to the site and also support the surrounding developments like Bukakata landing site to facilitate communication and promote uniform development.

The Chinese will on their part develop infrastructure in the park, focusing mainly on general agriculture production and value addition and also mobilise other Chinese investors to support activities of the industrial park.

The memorandum was signed on behalf of Uganda Government by the Executive Director Uganda Investment Authority Frank Ssebowa while Lu-Jing signed on behalf of the China Communications Construction Company.

According to Ssebowa, Masaka industrial park is one of the 22 parks to be established by Government as business incubation centres and commended the Chinese group for moving business outside Kampala to benefit the population upcountry and also decongest Kampala.

The signing was witnessed by the Vice President Edward Kiwanuka Ssekandi and the Chinese Ambassador to Uganda Zhao Yali.

The Project being funded by the Government of China through Exim bank will cost about 400 million dollars and according to the coordinator oversees projects of the China Communications Construction Lu-Jing, 200 million dollars is already secured for the first phase of the project.

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