Surplus land of the former Coryton refinery to be offered for sale
Surplus land of the former Coryton refinery (England) to be offered for sale
Following the acquisition of the former Coryton refinery, Vopak and its partners have concluded that 403 acres of land will not be required by the joint venture and decided to offer this land for sale.
As a result Vopak has reviewed the carrying value of its equity participation in the joint venture, resulting in an impairment in the range of EUR 40 – 45 million.
The impairment will be recognized as an exceptional loss in HY1 2015 (Q1 2015: exceptional gain EUR 36 million related to the divestment of three terminals and a plot of land in the United States).
The options for an import and distribution terminal on the remaining land continue to be under review. ….