The East African Crude Oil Pipeline (Eacop) owners aim to complete the $5 billion project in 15 months, transporting 230,000 barrels of oil per day from Uganda to Tanzania. The laying of the pipeline is set to begin this summer, with significant progress already made in Tanzania. Uganda’s Finance Minister allocated funds to ensure the project’s success, including necessary infrastructure development in Tanzania.
Eacop faces challenges in securing debt financing, but efforts are being made to finalize a $3 billion loan agreement. The project has seen opposition due to environmental concerns and displacement issues. Despite the hurdles, Eacop is moving forward with construction set to accelerate in the coming months to meet the delivery target.
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