A potential purchaser for Lindsey Oil Refinery has presented a fresh proposal, urging the Government to collaborate in a public-private partnership to operate the facility.
Investor Marc Amram, who heads an investment consortium that has shown interest in purchasing the refinery, has made a direct appeal to the Labour Government to embrace the proposal.
Under Mr Amram's scheme, the º£½ÇÊÓƵ Government would maintain ownership of the refinery, guaranteeing British oversight of a strategic national asset, whilst the restoration and management would be entirely funded by private equity.
It is argued the public-private partnership would preserve British employment, protect national energy security, and restore a vital º£½ÇÊÓƵ refinery, without any cost to taxpayers.
The strategy pledges to bring fresh investment, guarantee jobs, and diminish reliance on expensive fuel imports, all whilst safeguarding public finances, reports .
"This is a moment for leadership and partnership," said Mr Amram, speaking on behalf of his investment consortium.
"Labour has made a clear commitment to rebuild Britain's industrial strength and protect working families. Our proposal delivers exactly that - British control, private investment, and a stronger, self-sufficient energy future. We stand ready to work with the Government immediately to make it happen."
Avoiding closure would also remove the requirement for expensive decommissioning, protecting public funds whilst maintaining a crucial component of Britain's industrial backbone. A North Lincolnshire Council policy document to Government regarding the refinery has previously indicated that a 30-year remediation programme would be required should the facility shut down.
The profit-sharing partnership would guarantee returns for both taxpayers and private backers. The investment group headed by Mr Amram believes it would establish a lasting framework for how Britain can modernise its energy sector responsibly and sustainably.
"This is not just about saving a refinery," Mr Amram added. "It's about proving that with the right partnership between private enterprise and a forward-looking Labour Government, Britain can lead again - creating jobs, cutting imports, and securing our energy future for generations to come."
The bidding process for the refinery remains ongoing. The facility and bidding procedure is being supervised by the independent Official Receiver.
An Insolvency Service spokesperson has previously stated: "The Official Receiver is in ongoing discussions with a number of parties to progress bids with the objective of achieving a sale of the business. The Official Receiver remains committed to exploring the best possible outcome.
"To do so, each bid is being considered with care, due diligence and on an equal footing."
Energy Minister Michael Shanks has also previously stated that the Government is "hopeful that a solution will be found that supports jobs on the site long-term".
It's understood that the bidding process is anticipated to conclude in mid to late October. The 255 workers currently employed at the refinery will retain their jobs beyond the end of the month.
On September 30, redundancy notices were issued to 125 workers, terminating their employment at the end of this month.
