Monroe County Ohio: Ormet site Being Marketed for Power Plant or Manufacturing

March 7, 2016

A property developer that purchased the former Ormet Corp. aluminum smelting plant straddling Ohio and West Virginia for conversion into a large-scale port and central service terminal for the oil and natural gas industry is now marketing the site to manufacturers and power plant developers.

Ormet shuttered the plant in October 2013 after facing low aluminum prices and climbing electricity rates. The company later filed for bankruptcy and sold the property to Wisconsin-based Niagara Worldwide LLC, which bid $25 million for it. Niagara, which specializes in redevelopment and facility operations, said at the time that it bought the property to develop a service terminal in close proximity to Marcellus and Utica shale operations.

The abundant and low-priced natural gas in the region, combined with the site's strategic location and existing industrial infrastructure, make it better suited for a manufacturing facility or a power plant, Niagara said. Niagara President Eric Spirtas said in a statement that low commodity prices have created interest among large manufacturing companies.

The company said in 2014 after it bought the property that oilfield services companies had scheduled storage at the site (see Shale Daily, Nov. 3, 2014). Demolition was also completed to make room for services supporting sand, limestone, chemical and water handling. Niagara hired a port manager and operates what it now calls Center Port Terminal.

It's unclear, however, if the company would continue to offer those services at the site or if low oil and gas prices prompted it to market the property for sale or lease. Company officials could not be reached to comment.

Niagara said that "five infrastructure ready locations” on the property have been earmarked that would be ideal for power plant development.

Located primarily in Monroe County, OH, at the center of Utica Shale development and near Marcellus operations in West Virginia, the site sits along the Ohio River. It has 52 dock slips for barges, railway and highway access. Material handling equipment and water treatment is available there as well.

In the coming months, Niagara said it would review current proposals for "manufacturing and power plant installation" and is accepting others as well. 

Views: 391

Reply to This

Replies to This Discussion

JOBS JOBS JOBS

JOBS are a great thing problem is most of them have been going to people from outside the state of Ohio. Maybe if Kasich would give up his failed run for prez he could get back to work for the people he is supposed to be representing and do something to get the workers of Ohio on these jobs. Unlike the plant across the river rom Clairington that was built all non union and with workers from all over the south coming in to take the JOBS

Mike, at the NARO meeting in Barnesville U. S. Rep. Johnson stated that because of the possibility of a cracker coming to Belmont County that manufacturing companies were already inquiring where there were locations for them in the area.    Looks as if the Ormet owners are definitely aware of that.    Most of the oil and gas services located at Ormet now are really not of a permanent nature.

If we get the cracker plant there will be many idle acres along the river that will be put to use and create many Jobs

I agree Mike, it is important that we get a cracker plant some were in the Ohio Valley. It concerns me that it is taking so long. In the meantime infrastructure is being built to ship the resources elsewhere.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service