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Uganda and Tanzania have signed a framework agreement on their proposed $3.55 billion (Sh366.68 billion) crude export pipeline on Friday, a key milestone for the project, which is expected to start pumping Ugandan oil to international markets in three years.
An official at Uganda’s Ministry of Energy told Reuters the agreement covered terms on tax incentives for the project, implementation timelines, the size of the pipeline and local content levels, keeping it on track to complete in 2020.
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