Baard Energy / Energy / Hydraulic Fracturing

Port receives preliminary approval to use money

EAST LIVERPOOL — “The Columbiana County Port Authority received preliminary state approval to use state money once allocated for Baard Energy on a project to help two companies at its Wellsville river terminal, which is expected to create 20 new jobs.

The Ohio Department of Development’s Financing Advisory Council this week recommended $3.5 million be loaned to the port authority for the Wellsville project, with the loan to be forgiven if certain goals are met. The State Controlling Board is expected to act on the recommendation sometime this spring.

Port Authority CEO Tracy Drake said the money will be used to fund a variety of improvements at its river terminal/industrial park, all related to a joint venture between CIMBAR Performance Minerals and Anchor Drilling Fluids USA to process lubricants used in oil and gas drilling.”

— Tom Giambroni, East Liverpool Review

Read the whole story:

Tags: ,