Shuttered Refinery to Reopen in Delaware City

PBF Investments inked a deal this week to reopen a refinery plant in Delaware City that ultimately will employ about 500 workers.

PBF Chairman and Chief Executive Tom O’Malley announced the $220 million deal Tuesday alongside Gov. Jack Markell and state Sen. Dori Connor at the entrance of the shuttered refinery, which was previously owned by Valero Energy. About 700 construction workers are slated to outfit the facility over the next several months, the Wall Street Journal reports.

PBF, or Petroplus Holding AG, is a European refinery that O’Malley leads with the Blackstone Group and First Reserve Corp.

Though no specific date was given for the refinery’s re-opening, PBF has previously said it would be restarted in April 2011, according to the WSJ. There would be about 500 full-time positions, which would include construction and maintenance.