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Neste pumps €1.4B to boost renewable product capacity in Singapore

Finland-based refiner and renewable fuel producer Neste Oyj said Dec. 12 that it will invest €1.4 billion to increase its renewable product capacity in Singapore by up to 1.3 million tons per annum, bringing it close to 4.5 million tons annually in 2022.

The investment will also include additional logistics and enhanced raw material pretreatment for low-quality waste and residue raw materials for the existing refinery. The company plans to start up the new production line in the first half of 2022.

The company produces 2.7 million tons of renewable products annually with over 1 million tons produced in Singapore and the same amount in Rotterdam in the Netherlands, while the remainder is made in Porvoo, Finland.