Neste Oil Singapore plant set for 2010
Finland-based refiner Neste Oil has announced its S$1.2 billion (€615 million) renewable diesel plant in Singapore is set to be complete by June 2010.
Production on the 800,000 tonnes per year plant is anticipated for Q3 2010.
The NExBTL plant will use feedstock such as animal fat, palm oil and other types of vegetable oils.
The firm plans to hire up to 60 people by the end of this year for the Singapore plant, rising to a total of 100 people by mid-2010.
Neste, which relocated its products trading to Geneva from London earlier this year, is in talks with buyers in North America and Europe for the renewable diesel, which could be used for blending.
Current production from Neste Oil's first renewable diesel plant in Finland is sold to European markets.
Neste Oil will also build a renewable diesel facility, its fourth such plant investment so far, in Rotterdam to meet growing demand for biofuels.
The plant will cost about €670 million, also with annual capacity of 800,000 tonnes. Construction started last summer and it is due for completion in 2011.
Neste, which aims to become the world's leading producer of renewable diesel fuel, already has one 170,000 tonnes a year plant producing renewable diesel NExBTL operating in Porvoo, southern Finland. It is building a second similar one next to it, due to be ready this year.
Production on the 800,000 tonnes per year plant is anticipated for Q3 2010.
The NExBTL plant will use feedstock such as animal fat, palm oil and other types of vegetable oils.
The firm plans to hire up to 60 people by the end of this year for the Singapore plant, rising to a total of 100 people by mid-2010.
Neste, which relocated its products trading to Geneva from London earlier this year, is in talks with buyers in North America and Europe for the renewable diesel, which could be used for blending.
Current production from Neste Oil's first renewable diesel plant in Finland is sold to European markets.
Neste Oil will also build a renewable diesel facility, its fourth such plant investment so far, in Rotterdam to meet growing demand for biofuels.
The plant will cost about €670 million, also with annual capacity of 800,000 tonnes. Construction started last summer and it is due for completion in 2011.
Neste, which aims to become the world's leading producer of renewable diesel fuel, already has one 170,000 tonnes a year plant producing renewable diesel NExBTL operating in Porvoo, southern Finland. It is building a second similar one next to it, due to be ready this year.
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