The MRF, which would have the minimum recycling capacity of 50,000 tonnes per annum, would process materials mainly from the City of London, for which Cory holds the waste contract until 2015.
Cory believes that by using the Thames to transport goods, it will help to keep a significant amount of traffic off the roads.
Chief executive David Riddle said: Cory is well placed to transport waste to the proposed Plaistow Wharf MRF on the Thames. If planning permission is granted, the new MRF would add to Corys portfolio of river-served facilities, while strengthening the companys position as the largest commercial lighterage operator on the upper reaches of the Thames.
The company must now wait for planning permission from Newham council before developing the facility on 3.3 acres of land.