Officials announced that a Buffalo, New York based company has signed a tentative agreement to purchase over 1,000 acres from ArcelorMittal Monday.
Weirton Mayor George Kondik made the announcement to city council members informing them the Frontier Group of Companies has entered into a contract with ArcelorMittal to purchase approximately 1,100 acres of land.
“It gives us valuable land with the rail and the water and the highway for development,” Kondik said. “1,100 acres is a lot of land that can be used for redevelopment.”
The Frontier Group of Companies is the same group that purchased the Mingo Junction Steel Works site. It specializes in large-scale industrial and commercial facility reuse, repurposing and redevelopment.
The Business Development Corporation of the Northern Panhandle has been working with ArcelorMittal in marketing their surplus property located at the north end of town for the past five years.
“We’ve always stated what wonderful opportunities this particular piece of property holds, not only for us locally, but also for us regionally,” BDC Executive Director Pat Ford said.
David Franjoine, President of Frontier, said in a statement released to 7 News “based on our experience with similar properties and our initial due diligence, we believe the Weirton site has tremendous attributes and presents significant development and reuse opportunities.”
Kondik said the sale should be finalized by early fall.