Egyptian investors promised 3 square mile industrial site

By Benjamin Jumbe

President Yoweri Museveni has promised to offer a 3 square mile industrial site to Egyptian investors.

The president was on Thursday meeting a delegation of prospective Egyptian investors interested in establishing a new electricity distribution company and factory that manufactures wires, meters and transformers.

During the meeting held at Statehouse Entebbe, President Museveni welcomed their plans, but challenged them to make electricity cheap with the cost of a unit going for five cents for hotels and manufacturing enterprises and nine cents per unit for entertainment places like discos.

The Egyptian investors led by the new Egyptian Ambassador to Uganda, Mohamed Tarek Saliam, assured the President that they would finance the project themselves.