Tanzania and Uganda Officials during the East African Crude Oil Pipeline (EACOP) Project signing in Kampala. /Independent

Tanzania and Uganda on Friday signed an Intergovernmental Agreement (IGA) paving the way for construction of the proposed $3.55 billion (about Sh367 billion) crude oil pipeline in Kampala, Business Daily reports.

The 1,445 km-long, 24-inch diameter pipeline is expected to be complete by the year 2020. The project will start from Hoima, Uganda and terminate at Tanzania’s Indian Ocean seaport of Tanga.

Tanzania’s Minister for Constitution and Legal Affairs, Prof Palamagamba Kabudi and Uganda’s minister of Energy Irene Muloni represented their two countries during the signing of the project early Friday.

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