Neste announces 1,400 M€ investment in Singapore to extend its production capacity
Type of post: NEWS IN BRIEF.
It is the most relevant news of the year on the HVO
arena (see other news). Finally,
Neste Corporation has made the final
investment decision on additional renewable production capacity in Singapore. According
to the company press release, such decision is based on a growing global market
demand for low-carbon solutions in transport and cities, aviation, polymers and
chemicals.
Press release: “Neste
strengthens its global leading position in renewable products with a major
investment in Singapore”, 12/12/2018.
The Company is already the global leader in the transformation of waste and
residues into renewable hydroprocessed products and the investment strengthens
even more its leading position. The figures are overwhelming:
Investment
worth
|
1,400 M€.
|
Extension of
capacity in Singapur
|
1.3 Mtons/year
(currently, 1 Mton/year).
|
Total capacity
(Finland + Netherlands + Singapur) currently
|
Close to 2.7
Mtons/year.
|
Expected total
capacity (Finland + Netherlands + Singapur) in 2020 (by eliminating
bottlenecks)
|
3.0 Mtons/year.
|
Expected total
capacity (Finland + Netherlands + Singapur) in 2022 (considering the new
production line)
|
Close to 4.5
Mtons/year.
|
Start-up of the
new production line in Singapur
|
First half of
2022.
|
Figure 1. Neste announces 1,400 M€ investment in Singapore to extend its
production capacity
As a result of the investment, Neste will have more
options to choose between different product solutions in the whole production
system. In addition to producing renewable diesel, all Neste’s biorefineries
are able to generate renewable aviation fuel and raw materials for various
polymers and chemicals materials. The investment in Singapore will include
additional logistics capabilities and enhanced raw material pretreatment for
the use of increasingly low-quality waste and residue raw materials also for
the existing refinery.