According to Helsinki Times and Channel News Asia, Finland’s Neste Oil’s biodiesel plant will produce fuel for cars around the world. Diesel made from palm oil, vegetable oil and animal fat in Singapore may soon be powering cars in Europe and North America, Finland’s Neste Oil said on 6 March.
Neste Oil is building the world’s biggest bio diesel plant in the city-state at a cost of US$776 million. The plant will produce Neste Oil’s patented NExBTL renewable diesel which the company said is the cleanest diesel fuel in the world. The plant was originally planned to target the European market, Neste Oil deputy chief executive Jarmo Honkamaa told reporters during a media visit to the plant site.
Company executives said the move towards cleaner fuel worldwide in a bid to reduce global warming was likely to drive demand. Neste Oil chief executive Matti Lievonen stated that Singapore was chosen partly because its proximity to raw materials. Singapore is close to Indonesia and Malaysia, the world’s two leading crude palm oil producers.”