Governor of Anambra State, Chief Willie Obiano, has signed a Memorandum of Understanding (MOU) with Africa Project Finance and Development Limited for the development of Ogbunike Cave into a world-class Theme Park and Resort at the cost of N250 million.

According to the government’s set out plan for the tourist hub, the company will design, develop, finance, construct and operate the state of the art Park and Resort.

The equity distribution of the agreement allocates 75% to the company, 15% to the State government, 5% to Oyi Local Government Area, 5% to Ifite-Ogbunike, while 3% will be channeled towards development and social responsibility projects in the area.

Speaking after signing the MOU, Obiano said the project would provide comprehensive entertainment centre and facilitate total exploration of the Cave and make it attractive for tourism.

He gave assurance that the project would be handled by a world-class contractor who would give the State quality facilities for tourism and relaxation.

The Commissioner for Information, Culture and Tourism, Chief Tony Onyima explained that following the governor’s passion to transform the old age cave that had been ignored over the years, the Ministry and Anambra State Investment Protection and Promotion Agency (ANSIPPA) accelerated work in attracting the investor and concluded modalities for the partnership to harness the potentials of the Cave.

He noted that the schedule for the implementation of the project had been worked out and added that by next year some of the transformation projectswould be ready for commissioning with multiplier effect.

The Managing Director of the company, Mr. Joachim Nwagbo noted that within one year, governor Obiano would have turned the state into a first choice investment destination with effective security system and stable socio-political environment attractive for direct funding of projects and strategic development initiatives.

Nwagbo said, in addition to the Ogbunike Cave project, the company was equally ready to finance an airport project, modern transport scheme and also has N1.4 billion to invest on inter-State rail system.

Earlier, the Chairman of ANSIPPA Igwe Cyril Enweze, who is also the traditional ruler of Umuoji had stated that the project would include nature and games reserves, Water Park, hotels, museums, retail and dining facilities as well as theater, cultural centre, lake and river sports, among other recreation activities.

Enweze further explained that the project had immense benefits for the state, including mass direct and indirect employment opportunities and transfer of skill and technology.

•Photo shows Obiano (speaking) and others during the visit to Ogbunike Cave.