Neste’s €1.6 billion Singapore expansion project has been successfully completed and the company has celebrated its opening today.
The Singapore refinery expansion doubles Neste’s production capacity in the country and brings the refinery’s total capacity to 2.6 million tons annually of which up to one million tons can be sustainable aviation fuel (SAF).
This strengthens our position as the world's leading SAF producer. In addition to increased production capacity, the enhanced raw material pre-treatment capacity onsite increases Neste’s capability to process more challenging waste and residue raw materials.
“We celebrate today our Singapore refinery expansion opening with our customers, partners and employees. This marks another important milestone in our renewables growth strategy execution.
“The completion of the construction of the refinery is a remarkable achievement given the complexity of the project and as it was carried out during a global pandemic. I want to express my sincere and warmest thanks to all our partners and employees who have been part of this project,” said Matti Lehmus, president and CEO of Neste.
Neste is committed to supporting the aviation industry globally in achieving the goal of net-zero emissions by 2050. Also, Neste is pleased to support Singapore in achieving its ambitious emission reduction targets as part of the Green Plan 2030 and Sustainable Air Hub Blueprint under preparation for completion later in 2023.
In order to be able to offer blended Neste MY Sustainable Aviation Fuel™ directly to airlines at Singapore Changi Airport, Neste has agreed to acquire a stake and become a minority shareholder in Changi Airport Fuel Hydrant Installation Company Pte Ltd (CAFHI), the fuel storage and infrastructure joint venture in the airport. The transaction is subject to the fulfilment of customary closing conditions.
Using Neste’s SAF reduces greenhouse gas emissions by up to 80% over the fuel’s life cycle compared to using fossil jet fuel. Neste’s total SAF production capability will be 1.5 million tons per annum by the end of 2023 when the modifications at Neste’s Rotterdam refinery are completed, and 2.2 million tons when the expansion of the Rotterdam refinery is completed by the first half of 2026.
Neste announced its final investment decision on additional renewable products production capacity in Singapore in December 2018.
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