The government of Uganda and real estate muloodi Sudhir Ruparelia are set to construct a joint venture Convention Centre at Commonwealth Speke Resort Hotel Munyonyo at a cost of USh 147 billion.
There is great urgency around the Convention Centre project, which must be completed and fully functional within 8-9 months in order to host the Non-Aligned Movement (NAM) summit in January next year, followed by the South Summit of the G77 and China, and other meetings.
The government’s involvement in the project has been facilitated by the Ministry of Finance, which presented a supplementary request to the Parliament of UGX. 86.4 billion to co-invest in the project.
The Finance Minister explained that it was necessary to find a partner like Sudhir for such an urgent project that requires a lot of money, as the government lacks enough money to build its own convention centre.
We’ve learnt that the Ministry of Finance has finalised the budget and presented a supplementary request to the Parliament of UGX. 86.4 billion to co-invest in the project.
Accordingly, the modern ultra Convention Centre will later, also host the South Summit of the G77 and China.
MPs on the Budget Committee appreciated the foresight of the project and have indicated the request will be approved.
The architectural designs and bill of quantities for the engineering works are still being prepared, but the construction is estimated to cost $40m (Shs147b), multiple sources with working knowledge of the project say.
Dr. Sudhir provided the land and technical supervision of the project, with Finance Minister Matia Kasaija saying the government lacked enough money to build its own convention centre on its land.
“It is an urgent project, and a lot of money is needed which will be difficult for the government [to muster at short notice]. [The] government does not have all the money. There are many things we have to do; so, if we find a partner, it is easier,” the Minister said earlier,
adding: “We are undertaking the project in partnership with Sudhir. [The government puts in] and Sudhir puts in money. The architects are still calculating, and then we will know how much the government, and Sudhir are going to pay. If we go together in business, when it starts to make money, we share the profits.”