AGA KHAN TO INVEST $18m IN NILE HOTEL - 2003-11-24

KAMPALA: Serena Hotels a company owned by Aga Khan is investing US$19m in rebuilding of Nile Hotel International. The Privatisation Unit (PU) on Friday opened the financial bid from Serena Hotels.'The management is providing a commitment fee of $1.2m and will be paying four percent of the rental income every year which ranges between $ 238,000 and $554,000,' the PU director, Michael Opagi, said during the function held at Communications House.