Renewable diesel producer Neste has celebrated the expansion of capacity at its refinery in Singapore with the laying of a foundation stone.
Construction on the expansion project started at the beginning of 2019. The €1.4 billion investment will be used to expand Neste’s renewable products production capacity in Singapore.
“The Singapore expansion marks an important step in the execution of our growth strategy for renewables globally and the beginning for the world’s most unique and advanced refinery for renewables,” said Peter Vanacker, president and CEO of Neste. “The new production line will be the best in class worldwide, thanks to our continuous process and technology development.
“Laying a foundation stone on a major construction project is a great tradition. And we are extremely happy to be laying it in Singapore, in one of the most connected, economically significant, and vibrant places on earth. And in this spirit of cooperation, I would like to personally thank everyone who have and are involved in the expansion project – together we are creating a healthier planet for our children.”
Commenting on the news, Singapore’s Senior Minister and Coordinating Minister for Social Policies, Tharman Shanmugaratnam, added: “Neste is not only the world’s most sustainable energy company and a leader in renewable products but also one of the world’s most sustainable corporations across all industries. Besides collaborating in innovation, one of the ways we are developing these win-win partnerships is by developing a trusted, digitised and resilient supply chain network. This is critical for refinery operations. We are also developing new capabilities in managing and greening our supply chains, to meet the demands of firms like Neste.”
In addition to renewable diesel, Neste’s refineries are able to produce renewable aviation fuel and raw materials for polymers and chemicals materials.
The company’s investment in the Singapore facility will include addition logistics capabilities and enhanced raw material pre-treatment.
“We are determined to serve our customers and the industry in reducing carbon emissions,” Vanacker added. “With the Singapore expansion, we will have the capacity to produce over one million tonnes of sustainable aviation fuel annually.”
The expansion in Singapore will increase Neste’s renewable product capacity by up to 1.3 million tons per year, bringing the total capacity to almost 4.5 million tons per year by 2022.
The new production line is anticipated to start operations during the first half of 2022, Neste added.
LATEST VIDEOHow sustainable aviation fuel (SAF) is making its way in the aviation sector
Popular News Stories