Ruparelia Group Want government to fast track oil deals so that they can participate. Rajiv Ruparelia speaking at the opening of Kingdom Kampala mall said they are partly looking at what oil and has industry has to offer.
“The opening of this property has come at a strategic time when we are trying to target the oil and gas sector as well as any other sectors that require office space,” Rajiv told journalists.
“We are trying to get new people who would be investing in the oil and gas. We hope the oil and gas deals are signed this year as we have been told. Once that takes off there will be extremely good economic movement in Uganda.” He added.
His father, businessman Sudhir Ruparelia in an interview with a local website urged government to fast track the oil industry and close the inpending deals so that they can participate.
“I would like to urge government to work towards closing the long awaited oil and gas opportunities. Many investors have made projections and investments based on that opportunity, the longer it takes to materialize, the more these investors will be hard pressed,” Sudhir told CEO East Africa in an exclusive interview.
Uganda and the international oil companies are expected to announce a Final Investment Decision (FID) in June. The FID will give guidance and explain how the oil companies will invest their money.
The Ruparelia Group through Speke Group of Hotels has had a taste of oil money. The Group’s hotels like Speke Resort Munyonyo and Kabira Country Club has been the preferred facilities for local and international oil and gas meetings.
In April this year, Uganda Chamber of Mines and Petroleum hosted the country’s leading oil and gas convention at Speke Resort. The ministry of energy and mineral development has also hosted the energy sector review meetings there.