Coryton refinery handed to group behind Thames Oil Port
The purchase of the former Coryton oil refinery in Essex has been completed.
The handover to joint venture partners Royal Vopak, Greenergy and Shell UK on Friday marks the end of a sale process started in June.
Up to 850 workers at the site near Stanford le Hope were served redundancy notices after the site's owner Petroplus collapsed in January.
The new owners plan to turn the site into a distribution terminal to be called Thames Oil Port.
The plant, which previously supplied 20% of London and the South East's fuel, ceased production in June.
The new partners say Thames Oil Port is expected to be operational in 2013.
Ian Cochrane, managing director of Vopak Terminals UK, said: "Thames Oil Port will be a sustainable business designed to meet the fuel needs of London and the South East for the foreseeable future.
"Over the next couple of months as the plans are finalised we will be able to give more information about how that business will be staffed and run," he said.