Neste Oil Builds Biodiesel Plant in Singapore

Finnish refiner Neste Oil starts the construction on a biodiesel plant on 6 March in Singapore. The plant will be the company’s largest and will be operational from 2010 and initially cater to Europe’s growing biofuel requirement. The company’s investment of 550 million Euros to build the plant, which will have an annual capacity of 800,000 tons, is in line with its strategy to become the world’s leading producer of diesel from renewable feedstock.
It is anticipated that demand will grow rapidly in developed economies. Demand for biodiesel in Europe is currently around 6-8 million tons annually and is expected to grow to 13-15 million tons by 2010.

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