Refinery to close as funding dries up
London - Arabstoday
An oil refinery which went bust is to close after administrators failed to find a buyer or the cash needed to keep it going, putting around 850 jobs at risk The Coryton plant in Essex, which supplies 20% of fuel in London and the South East, was plunged into administration by its Swiss owner Petroplus. The site will be wound down after the challenge of raising the £625m needed to fund the refinery proved too much.
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