According to Bloomberg Businessweek, John Eric Mugyenzi, Managing Director of the Uganda Electricity Generation Co., said that the results a feasibility study show the project what cost more than the initial estimates of around $1.3B
Uganda’s government is reportedly in talks with the African Development Bank to help fund the project, which is expected to be completed over the next five years.
The Karuma project is one of the high priority projects in the country’s national development plan. It includes construction of a hydropower facility with an underground Power Station housing five turbines, located about 3km upstream of Karuma Bridge and 80km downstream of Lake Kyoga, on the River Nile.
