Russian consortium RT Global Resources, the group slated to build a $4-billion, 60,000-barrels-per-day crude-oil refinery-plant project in western Uganda, recently withdrew from the project, though the company later indicated it is still open to negotiations with the government. Uganda’s energy secretary, Kabagambe Kaliisa, confirmed the withdrawal of the consortium, which was led by Russian conglomerate Rostec, and accused the contractor of dragging its feet.
“As a procedure, they were supposed to get the necessary clearance back home, and it was what we were waiting for. However, we received communication they were withdrawing the performance bond,” said Kaliisa in an interview with The East African, a Nairobi-based weekly, on June 1. RT Global Resources consortium also includes Telconet Capital Ltd Partnership, VTB Capital, Russian oil company Tatneft and South Korea's GS Engineering & Construction Corp.