TSXV:RECO - Post Discussion
Post by
pacer001 on Aug 10, 2023 3:05pm
Could befall Recaf and Namibia?
The Ugandans have been struggling with their pipeline to bring their oil from their inland to coast for like 10 years now. It is way behind schedule, vastly over budget, and loosing partners and backers increasingly. It was supposed to be a slam dunk. There are no slam dunks with oil in Africa!
See below about it:
"
The price of the project has increased to 5 billion $ and financing as of June 2023 is uncertain, as 24 banks have distanced themselves from the project with only two banks namely Standard Bank, through its subsidiary Stanbic Uganda, and the Industrial and Commercial Bank of China, still advising to the project.
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