06 March 2009

Foundation stone ceremony at Neste Oil’s NExBTL renewable diesel plant in Singapore

Published in Releases and news

- project proceeding on schedule and budget

Neste Oil Corporation  
Press release  
6 March 2009 at 10.45 am (EET)

Neste Oil held today a Foundation Stone Ceremony to officiate the construction of its EUR 550 million NExBTL renewable diesel plant in Singapore. Neste Oil’s President and CEO Mr Matti Lievonen was in attendance, and Mr Lim Hng Kiang, Minister for Trade and Industry, Singapore was the Guest-of-Honour at the event.
“The construction of our NExBTL renewable diesel plant in Singapore is proceeding on schedule and on budget. The market has been highly unpredictable in the past year but the Singapore plant plays an important part in our long-term strategy for growth, and our commitment to the project remains solid. We are very grateful to the local government for the support they have given us and look forward to when the plant is officially inaugurated in 2010,” stated Mr Matti Lievonen.

Upon completion in 2010, Neste Oil’s renewable diesel plant in Singapore will be the largest in the world with an annual capacity of 800,000 metric tons. Neste Oil’s patented NExBTL technology allows flexible use of any vegetable oil or animal fat in the production of NExBTL renewable diesel, the cleanest diesel in the world. NExBTL-diesel is the only renewable diesel in the world that is fully compatible with existing diesel engines and logistics systems. The use of NExBTL-diesel significantly reduces greenhouse gas and tailpipe emissions compared to even the best fossil fuels, thereby contributing to better air quality. Feedstock, to be used at the NExBTL renewable diesel plant, are animal fat, palm oil and other types of vegetable oils. When fully operational, the plant will employ around 100 people.

Neste Oil Corporation

Osmo Kammonen
Senior Vice President, Communications

More information: Mr Jarmo Honkamaa, Deputy CEO and Executive Vice President, Renewable Fuels, tel. +358 10 458 4758