Oxidental Chemicals Has Big Plans For Old U.S. Naval Station (Ingleside)

[TexasTowelie]

CORPUS CHRISTI - The port of Corpus Christi is getting closer to selling the old U.S. Naval Station Ingleside property. The base reverted to the port authority after the Navy pulled out. Since then the port has been trying to get the property re-developed and just recently a deal to sell most of the property to Houston-based "Canyon Supply and Logistics" fell thru.

The door for another deal has opened, this time with Oxy Chemicals. The company has been based in Ingleside for 25 years and has submitted a letter of intent to the Port to buy the property.

"It's a first class facility." said Paul Thomas, Oxidental Chemicals' Plant Manager in Ingleside, "The Navy really built that thing without a budget it looks like because everything is first class all the way."

Oxidental Chemicals has offered to pay the listed price of $82.1 million in cash. With an offer like that, Port of Corpus Christi officials say that, as far as they're concerned, it's a done deal.

More at http://www.kristv.com/news/oxidental-chemicals-has-big-plans-for-old-u-s-naval-station/

[Cirque du So-What]

1. Is that a fair deal?

Knowing what 'built without a budget' entails, it sounds like this facility is built like the proverbial brick shithouse. I hate to see infrastructure - for which we taxpayers are already paid through the nose - get snapped up for a song by a private enterprise. Then again, I'd hate to see that infrastructure go to waste by sitting idle.