Imo State Government, under the administration of Senator Hope Uzodimma is said to have abandoned the dilapidated State owned Concorde Hotel Owerri. This is as the governor signed a New deal with Hassan Allam Construction, Afrexim Bank, Fidelity Bank and Punz Limited, to construct new 200 room five star hotel in Imo State....CONTINUE READING THE ARTICLE FROM THE SOURCE
The hotel which will be ready in 24 months is a product of agreement between Imo State Government, Hassan Allam Construction, Afrexim Bank, Fidelity Bank and Punz Limited, under the Public Private Partnership (PPP) arrangement.
Governor Uzodimma signed the MOU in his Conference Room for the Five Star hotel on behalf of Imo State Government, while the Managing Director of Hassan Allam, Mahmoud El Essawy signed on behalf of the other partners, Afrexim Bank, Fidelity Bank and Punz Limited.
The Secretary to the State Government, Chief Cosmos Iwu, the Chief of Staff to the Governor, Barr Nnamdi Anyaehie and other top government officials were on hand to witness the signing of the MOU by both partners.
The Governor said that the project is a Public Private Partnership (PPP) arrangement where Imo State is contributing no dime except the provision of land that guarantees the State equity share in the project ownership.
He equally said that the construction period of the Five Star hotel is 24 months and that the signing of the MOU was “to activate the processes leading to the achievement of the project.”
The Governor who asserted that the MOU on the Hotel and accent to the Bills are indications that “gradually Imo is getting there,” added that Imo will be better because his administration is ready to “solve the problems bedeviling the State.”
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