Business

Uzodimma Signs MoU for 200-room Marriott Hotel in Owerri

Governor Hope Uzodimma of Imo State has unveiled plans for a significant new development in the hospitality sector with the signing of a Memorandum of Understanding (MoU) with Hassan Allam Holding and Punz Limited. The agreement paves the way for the construction of a 200-room Imo Marriott Hotel in Owerri, the state capital.

This initiative, organized through a public-private partnership (PPP) model, is projected to be completed within a 24-month period. Financial support for the project will be provided by prominent financial institutions including Afrexim Bank and Fidelity Bank Plc, with the state government also participating as an equity partner.

Governor Uzodimma expressed his enthusiasm for the project, highlighting its potential to boost the local economy and enhance the state’s hospitality industry. “Embracing this initiative showcases our commitment to the expansion of our hospitality industry, thereby catalyzing economic growth and prosperity,” he stated. The Governor emphasized that the collaboration represents a stride towards sustainable development and improving the quality of life for the citizens of Imo State.

The Imo Marriott Hotel is expected to add significant value to the region, attracting both business and leisure travelers, and creating numerous jobs. It stands as a testament to the state’s proactive approach to fostering partnerships that spur economic development and infrastructural advancement.

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