President Yoweri Museveni has today met a delegation of prospective Egyptian investors, led by the new Egyptian Ambassador to Uganda, Mohamed Tarek Saliam, who are interested in establishing a new electricity distribution company and factory that manufactures wires, meters and transformers.
During the meeting that took place today at State House, Entebbe, President Museveni welcomed their plans and informed them that since Uganda has a high purchasing power, they have to make electricity cheap for Ugandans.
He said that electricity should go for five cents per unit for hotels and manufacturing enterprises and nine cents per unit for entertainment places like discos.
The Egyptian investors, who assured the President that they would finance the project themselves, were promised an industrial site of three square miles where they would site their factory.
