Kampala — The Uganda National Roads Authority (UNRA) has said it needs $700m to undertake the construction of the 700 kilometers of the Oil roads and to build a new bridge at Karuma on River Nile.
Allen Kagina, the UNRA Executive Director said in Kampala that for the oil roads to be ready by 2020, their construction must start before the end of 2017.
Government is seeking $600m which is expected to be secured from the Exim Bank of China.
"Discussions between Government through the Ministry of Finance to secure the loan is ongoing. These funds are needed for us to start on the project before November," said Kagina.
The government set a target of having the first oil drop by 2020, however to realize such a target, the necessary road infrastructure must be in place.
At the beginning of 2017, the procurement process kick off for the design and build of the 683km from contractors.
"By November this year, we shall sign the commercial deals with contractors to undertake the project if Government secures money in time," said Kagina
She was briefing the media about UNRA performance for the ending financial year 2016/2017. And the proposed projects to be under taken in the financial year 2017/2018.
Apart from the Oil region Roads, the Road Agency plans to undertake the construction of a new bridge at Karuma falls on River Nile.
It is said that the new Bridge may take up to $100m.