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May 28th, 2012 
FAKE NEWS for the Zionist agenda The Coryton plant came under threat when its Swiss owner Petroplus placed it into administration in January.
The plant, which employs over 500 people, supplies 20 percent of fuel in London and the South East. The closure process is expected to take up to three months, local media reported.
Administrators said it was likely there would be “substantial” redundancies among the 500-strong workforce.
Around 350 contractors who work on the site will learn their fate in the next few days.
Administrators PwC said the challenge of raising the £625million needed to fund the refinery had proved too difficult, according to reports.
“The current financing market is exceptionally difficult – capital is short and expensive”, said Steven Pearson, joint administrator and partner with PwC.
“Prospective investors in the refinery faced a significant capital expenditure need, as well as a fragile market for refined oil products. These factors have conspired against us in trying to structure a deal”, added Pearson.
MOL/JR/HE
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