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Occidental unit to buy ex-naval station in Texas

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Posted on May 9, 2012 at 9:28 am by Associated Press

CORPUS CHRISTI, Texas — A unit of oil producer Occidental Petroleum Corp. has reached an $82 million deal to buy the South Texas site of former Naval Station Ingleside.

Port of Corpus Christi commissioners on Tuesday approved a contract with Oxy Ingleside Property Holdings for 815 acres.

The Corpus Christi Caller-Times reports Oxy has about 90 days to close the sale.

Spokesman Mark Evans says Oxy filed a permit application last week with Texas environmental regulators to build a fractionator at a nearby Oxy Chemicals unit. The new property would be used to help support the chemical plant’s natural gas operations and exports.

Houston-based Canyon Supply and Logistics earlier this year failed to make a $19 million down payment for 187 acres of the former naval facility, which closed in 2010.

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