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Uganda to Build $350 Million China-Funded Road Starting July

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April 26 (Bloomberg) -- Uganda plans in July to start building a $350 million Chinese-funded toll road linking Entebbe International Airport and the capital, Kampala, to reduce congestion, the Uganda National Roads Authority said.

The 37-kilometer (23-mile) dual carriageway, with an additional 13-kilometer spur, will be financed through a four-year loan from the Export-Import Bank of China, the authority said in an advertisement published today in Daily Monitor newspaper. The existing 36-kilometer Kampala-Entebbe road experiences regular congestion, it said.

China is one of the main sources of foreign direct investment for the East African country, which is on the cusp of an oil boom, according to the Uganda Investment Authority. The state-owned China National Offshore Oil Corp. has partnered Tullow Oil Plc and Total SA in the development of discoveries in Uganda.

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net.

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net.

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