The new owners of the old Sparrows Point steel mill say that more than one national employer is interested in locating at the site. (Pamela Wood/Baltimore Sun)
The new owner of the old Sparrows Point steel mill said Thursday that "more than one national employer" is interested in located at the site.
Following a community meeting about the proposed environmental cleanup of the site, Dixon Betz, CEO of Sparrows Point Terminal LLC said interest is high in his company's project, with "a number of potential users" in negotiations.
Betz's company, which is backed by local firm Redwood Capital Investments, plans to redevelop the old steel mill into an industrial campus that could include manufacturing, logistics and Port of Baltimore operations.
Sparrows Point Terminal LLC will have to clean up chemicals that have contaminated the soil and groundwater in many portions of the site. The company has agreed to spend up to $48 million on cleanup that will be overseen by the state, while also paying $3 million to the federal government to investigate pollution in the waters surrounding the site.
Even as the multi-year cleanup gets under way, Sparrows Point Terminal will proceed with leasing non-contaminated portions of the property to tenants. Some areas are nearly ready to be leased, including the former cold mill building, Betz said.