3rd Time the Charm: OH Center Port Terminal Woos Manufacturers

CenterPortTerminal-header-smWe have an interesting update to share with you regarding the former Ormet Aluminum Plant site located on the shoreline of the Ohio River in Monroe County, OH. The plant closed its doors as an active aluminum plant in 2014 after Ohio regulators and Gov. John “foreigner hunter” Kasich failed to get high electric rates reduced for the plant, and refused to allow Ormet to burn coal to produce their own electricity until they could begin using natural gas to create electricity from gas wells drilled on the property (see Final Chapter of Ormet Plant Closing – Utica Could have Saved It). The new owner, Niagara Worldwide LLC, first tried to market the property, renamed Center Port Terminal, to Marcellus/Utica Shale drillers and oilfield services companies (see New Ormet Aluminum Plant Owner Shops Barge Facility to Shalers). Then the bottom kind of fell out with the natgas price crash. No drilling, no need for a facility like Center Port. In March of this year MDN told you the site was being marketed as a great location for natgas-fired electric generating power plants (see Old Ormet Site in Monroe, OH Shopped as Power Plant Location). We’re not sure, but we’re guessing they got no takers for that one either. Finally Niagara seems to have hit on the right use for the site–manufacturing plants that use large volumes of natural gas. The site has its own shale wells on the property, drilled by the now bankrupt Magnum Hunter Resources. So it makes sense for manufacturers to locate there to take advantage of a cheap source for natgas. And that’s just what is happening. Niagara reports recently signing their third large manufacturing tenant. The press release says manufacturers are “rushing the gate” to set up shop at the site…

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