Neste to invest in renewables production capacity in Singapore
December 27, 2018
Finnish renewable fuels producer Neste has decided to extend its capacity in Singapore by up to 1.3M tonnes/year, bringing its total capacity in 2022 close to 4.5M tonnes/year.
“Neste is in the business of helping transport and cities, aviation, polymers and chemicals customers make their business more sustainable and will continue to lead the way for renewable products. This investment marks an important step in the execution of our profitable growth strategy globally,” said Neste president and CEO Peter Vanacker on 12 December.
The investment would give Neste more options to choose between different products in its whole production system. As well as renewable diesel, Neste’s renewable product refineries were able to produce renewable aviation fuel and raw materials for various polymers and chemicals materials, the company said.
“The investment will strengthen our competitive advantages which are based on the global optimisation of our production and waste and residue raw material usage. With our proprietary NEXBTL technology, renewable products can be refined flexibly from a wide variety of lower quality waste and residues while the end-products retain their high quality,” Vanacker said.
Neste currently has a renewable products production capacity of 2.7M tonnes/year. Of this total, over one million tonnes is produced in Singapore, the same amount in Rotterdam, the Netherlands, and the rest in Porvoo, Finland.
“Before the new production line in Singapore, we will continue to eliminate bottlenecks in our existing production, bringing the existing capacity to 3M tonnes by 2020.”