Umeme Uganda to Invest $32 Million in Power Substations in 2011
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Umeme Ltd., a Ugandan power distributor owned by Actis LLP’s Infrastructure 2 Fund, will invest $32 million next year to improve substations, boost new connections and set up prepayment systems, it said.
The company has invested $96 million in expanding and refurbishing the nation’s electricity network since winning the concession in March 2005, it said in a statement published in the Kampala-based Daily Monitor newspaper today. That’s 47 percent more than the $65 million the company was required to invest by March 1, 2010, according to its concession terms.