Port Corpus Christi Commissioners Accept Bid for the Sale of the Campus Portion of Former NSI Base
Corpus Christi, TX – Port of Corpus Christi Commissioners accepted a bid of $7 million from Oxy Ingleside Property Holdings, LLC for the 99.72-acre campus portion of the former U.S. Naval Station Ingleside (NSI) at a special Port Commission meeting held today, Tuesday, July 31, 2012.
Approximately 816 acres of the former NSI base plus additional Port property is currently under purchase contract by Oxy Ingleside Property Holdings, LLC. On May 8, 2012, Port Commissioners authorized staff to request sealed bids for the former NSI campus. Bid notices were publicly issued on July 5 and July 11. The highest and best bid was received from Oxy. Staff recommended that the Commissioners accept the bid. The sale agreement will be presented for approval at the next scheduled Port Commission meeting on August 14, 2012. “We are pleased that Oxy Ingleside decided to bid on the campus portion of the base. The Port Commission and staff look forward to working together to finalize the closing of the sale agreements and to a great future in the Coastal Bend Region.” said Mike Carrell, Chairman, Port Commission.
Oxy Ingleside Property Holdings, LLC is a wholly owned subsidiary of Occidental Petroleum Corporation (Occidental). Occidental is the fourth-largest U.S. oil and gas company by market capitalization. Its wholly owned subsidiary Occidental Chemical Corporation (OxyChem) has operated a chemical plant in Ingleside since 1987. This new investment in Ingleside would be an expansion of Oxy’s current operations in the area.
About Port Corpus Christi
As the primary economic engine of the Coastal Bend, Port Corpus Christi is the fifth largest port in the United States in total tonnage. The Port’s mission is to “serve as a regional economic development catalyst while protecting and enhancing its existing industrial base and simultaneously working to diversify its international maritime cargo business.” Strategically located on the western Gulf of Mexico, with a straight 45’ deep channel, (with a channel improvement project permitted and authorized to 52’) the Port provides quick access to the Gulf and the entire United States inland waterway system. The Port delivers outstanding access to overland transportation with on-site and direct connections to three Class-1 railroads and uncongested interstate and state highways. The Port is protected by a state-of-the-art security department and an award-winning Environmental Management System. With outstanding management and operations staff, Port Corpus Christi is clearly “More Than You Can Sea.”