Shipping giant P&O is to redevelop Shell Haven refinery as one of the biggest container terminals in Britain, handling up to a million containers a year, it was announced today.

Shell revealed it had granted exclusive rights to P&O to redevelop the site at Coryton, which includes 2.5 miles of riverside and five jetties.

If all goes to plan it will mean a jobs bonanza for south Essex with the terminal handling more trade than the famous Southampton container terminal.

P&O is proposing to develop the riverside area of the site as a container terminal and the rest for port-related services. The two companies say they are confident that detailed agreements will be completed within three months.

Shell announced in September 1998 that the refiner was to close down and production ceased last month, apart from the bitumen plant which is to carry on as a separate operation.

Over the past 15 months Shell has been working in co-operation with Thurrock Council to find a new user for the site.

The two companies are not yet saying how many new jobs will be created but the leader of Thurrock Council, Andy Smith, said the news meant the area would be starting the millennium with a huge economic boost.

He said: "We are talking about massive investment and significant job opportunities. There can be few if any boroughs looking forward to such economic growth at the start of this new century."

Shell Haven manager, Mark Stevens, said: "I am delighted that a company with such an established reputation is leading the redevelopment of the refinery site."

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