Congressman Brady calls Carlyle Group and Sunoco joint venture a major win for the area
ABOVE PHOTO: Cong. Bob Brady greets Sunoco refinery security guard Mathew Gregory
The Carlyle Group and Sunoco, Inc. announced recently that they have agreed to form Philadelphia Energy Solutions, a joint venture that will enable the historic Sunoco refinery to continue operating. The refinery, the oldest continuously operating one on the east coast, processes 330,000 barrels of oil per day into various refined products and was scheduled for shut down in August of 2012.
The joint venture is expected to save 850 jobs, secure the region's fuel supply by continuing the daily flow of 10 million gallons of various fuels, and create 100-200 new, permanent jobs, as well as thousands of construction jobs.
Congressman Bob Brady (D., PA) said it was a proud day in Philadelphia and the first Congressional District as the deal to save the refinery was announced. Brady said that he has worked every day to find a solution to save the refinery and the jobs of those who work there.
"I spent months working with key stakeholders to find a solution that will work for Philadelphia and the region and sometimes those discussions got pretty heated, but I am proud that we are here today to make this important announcement that will save jobs and bring more employment to the area."
Brady added, "This is a perfect example of how labor, business and government can work together to get things done. Everyone from Sunoco's Brian MacDonald to Carlyle's David Marchick and Rodney Cohen to Leo Gerard and Jim Savage of USW, to the White House and Governor Corbett worked as hard as they could to make this happen. The best part of this deal is that we're not just saving 850 jobs.
We're laying the ground work for thousands of construction jobs, permanent refinery jobs and all the other jobs related to the suppliers and contractors who work with this plant. I couldn't be prouder than I am to have been a part of this."
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