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New name for closed refinery
8:00am Friday 5th October 2012 in News
CORTYON oil refinery is to be renamed after it a deal to turn the defunct facility into an import terminal was completed.
The site, which has been called Coryton since 1919 when it was taken over by the Cory brothers, will now be called the Thames Oil Port as work converting it into an import and distribution terminal continues.
A consortium led by Vopak announced in June it had reached an agreement with administrators Pricewater-houseCooper to buy the plant.
PwC was called in to find a new buyer at the end of January, after its parent company Petroplus went bankrupt.
The site, which currently lays dormant after Petroplus staff left for the last time more than two weeks ago, was handed over to its new owners on Monday.
More than 800 workers have lost their jobs since it was announced the refinery would be closed down.
Ian Cochrane, managing director of Vopak Terminals UK, said: “In 2013 we will start operating the UK’s first deepwater terminal.
“Thames Oil Port will be a sustainable business designed to meet the fuel needs of London and the South East.
“Over the next couple of months, as plans are finalised, we will be able to give more information about how that business will be staffed and run.”
The striking refinery towers and structures, that form a prominent part of the Thamesside landscape, will not be dismantled for some time.
Mr Cochrane added: “We don’t need the most visible parts of the refinery’s structures, but their demolition won’t be an immediate priority.
“You can expect to see them for some time to come, but there will be a new business powering away behind them.”
The consortium will also be looking to work to redevelop land not needed for the terminal project.