12 December 2017 at 2 p.m. (EET)
Neste's growth program for Renewable Products takes a step forward
Neste's Board of Directors has decided that Neste's additional production capacity for renewable diesel, renewable aviation fuel and raw materials for various biochemical uses will be located in Singapore. The decision initiates technical design of the new production line, with the aim of a final investment decision by the end of 2018. If the project proceeds as planned, production at the new production line will begin by 2022.
The new production line will extend Neste's current capacity in the Singapore refinery by one million tons. The growth project includes an enhanced pre-treatment unit in preparation for the use of increasingly poor-quality waste materials.
"There were two equally good locations for the refinery, the United States and Singapore. We investigated the strengths of both potential operating environments, and also revisited our outlooks for raw materials and demand. Based on this overall assessment, we settled on Singapore," says Kaisa Hietala, head of Neste's Renewable Products business.
Neste currently has a renewable diesel production capacity of 2.6 million tons. Of this total, over one million is produced in Singapore, the same amount in Rotterdam and the rest in Porvoo, Finland. By eliminating bottlenecks, this total capacity will be increased to 3 million tons by 2020. In addition to producing renewable diesel, the refineries are able to produce renewable aviation fuel and raw materials for various biochemical uses.
Director, Corporate Communications
Kaisa Hietala, Executive Vice President, Renewable Products, Neste, tel. +358 50 458 4128
Neste in brief
Neste (NESTE, Nasdaq Helsinki) builds sustainable options for transport, business and consumer needs. Our global range of products and services allows customers to lower their carbon footprint by combining high-quality and low-emission renewable products and oil products with tailor-made service solutions. We are the world's largest producer of renewable diesel refined from waste and residues, and we are also bringing renewable solutions to the aviation and plastics industries. We want to be a reliable partner with widely valued expertise, research and responsible practices. In 2016, Neste's net sales stood at EUR 11.7 billion, and we were on the Global 100 list of the most sustainable companies in the world. Read more: neste.com