Uganda is on course to attaining a green country status following a multi billion project between Uganda Investment Authority and a Malaysian firm with an aim of transforming the country into a green economy by 2040 through a series of four integrated green projects led by bio-fuels.
A delegation of 18 investors from Malaysia are in Uganda for site inspection before the projects kick off in August this year.
The $70bn project will be implemented by Bionas East Africa Group Limited, a subsidiary of Bionas Agropolitan Technology Corridor Development Berhad.
The 10 year project will cover the 120 districts of Uganda.
Dato’ Seri Mohd Safie’e Chairman BIONAS says the project will take 10 years instead of 25 years as earlier communicated.
The four projects will include Jatropha Agropolitan Business Corridor Clusters Development, a program that will serve as a vehicle to operationalize the Uganda Biofuel Act of 2016.
Jatropha are trees used for the production of biofuel and biodiesel, for industrial, energy and transport applications. It will also provide a certified regime of the best technologies of Jatropha Curcas seeds, nursery and plantations systems, press mill, bio – additives and biofuels production.
Dato’ Seri Mohd Safie’e Chairman BIONAS is however optimistic that more Ugandans will benefit from the infrastructure development, housing, food security that the team intend to establish. He says the project is likely to create one million jobs across the country.
Zurina Amnan, the Bionas Group CEO says that farmers can earn up to $400 from the Jatrope plantations in addition to low cost housing facilities which they can pay for in installments over 10 years.
Similar projects will be established in Sudan and Nigeria. The BATC international construction consortium will bring in 100 per cent investment for all the projects.