A legal wrangle over Sheerness steel mill has been brought to a conclusion, paving the way for a partial reopening.

Hundreds of employees lost their jobs when the site in Brielle Way, Sheerness, ceased production in January 2012.

Since then, negotiations have been going on between landowner Peel Land and Property and Al Tuwairqi Holding Company, which owns the plant.

The talks have been over possession of the assets.

Peel says an “amicable settlement” has now been reached between the two parties.

Under the agreement, the current tenants will vacate the premises once “certain plant and equipment” has been removed from the site.

It had been reported that a Ukrainian consortium was involved in talks to operate a steel rolling mill there.

"All parties hope this agreement will act as a catalyst for the regeneration of this important strategic site..." - Peel Land spokesman

But it is now understood it has pulled out of any possible deal.

Discussions have also been held with Peel Ports about it using parts of the land for the expansion of its existing facilities at nearby Sheerness Docks.

A spokesman for Peel Land said the agreement would not have been possible, “without the goodwill and valuable assistance of Swale council, Gordon Henderson MP and TS Sheerness Steel Limited”.

He said: “Given the Peel Group’s involvement in the Port of Sheerness and their aspirations for the future growth of this strategic hub, and Al Tuwairqi Holdings’ long standing and substantial investment in the works, all parties hope this agreement will act as a catalyst for the regeneration of this important strategic site so that it may be brought back into productive use as soon as is practicable.”

Yesterday, we ran a poll asking readers what they would like to see happen to the site. Click here to see the results and have your say.