PES South Philly Refinery Up-date – Plans for Sale Announced

The damaged and shuttered South Philly Refinery of Philadelphia Energy Solutions (formerly the Sunoco Refinery) following the June 21, 2019 explosion. It is slated to be sold to a Chicago real estate development company. The future of former PES employees has not been announced.
The damaged and shuttered South Philly Refinery of Philadelphia Energy Solutions (formerly the Sunoco Refinery) following the June 21, 2019 explosion. It is slated to be sold to a Chicago real estate development company. The future of former PES employees has not been announced.

The Philadelphia Inquirer reported today (January 23, 2020) that bankrupt Philadelphia Energy Solutions (PES) has agreed to sell its South Philly refinery complex to a Chicago real estate development company, Hilco Redevelopment Partners. The precise re-use of the property was not revealed.

The price is reported to be $240 million for the 1,300-acre refinery which was ravaged by a fire and explosion on June 21, 2019. According to the inquirer, that blast released 5,000 pounds of a deadly chemical which fortunately for Southwest residents was driven toward New Jersey by a west wind. Shuttered Philly refinery site comprises 23 acres and was shut down completely 6 months ago and more than 1000 employees were thrown out of work.

PES announced the deal Tuesday in a memo to employees and indicated that plans for the site and the former employees would be announced by a Hilco’s affiliate, HRP Philadelphia Holdings LLC, at a later date. The handoff of the property was expected to take place “within 60-90 days,” the memo apparently said.  (Inquirer article summarized by Globe Times staff).

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