The Ministry of Finance has finalized the budget and presented a supplementary request of UGX. 86.4 billion to Parliament. These funds will be used to co-invest in the project.
Reports have it that the Centre will also host the South Summit of the G77 and China in the future. MPs who sit in the Budget Committee commended the foresight of the project and showed positive signs towards the approval of the request.
The architectural designs and bill of quantities for engineering works are still under preparation at the moment. However, they estimated the construction cost to be about $40m (Shs 147b).
Mr. Sudhir provided the land as well as the technical supervision of the project. The finance minister, Matia Kasaija said the government had inadequate funds to build its own convention centre on its land.
“It is an urgent project, and a lot of money is needed which will be difficult for government [to muster at short notice]. [The] government does not have all the money. There are many things we have to do; so, if we find a partner, it is easier,” the Minister said earlier.
He added that they are undertaking the project in partnership with Sudhir on top of other technicalities. He said that once the Convention Centre starts making money, they will both share the profits.
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