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Neste announces EUR1.4bn renewable products production investment in Singapore.

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NORDIC BUSINESS REPORT-December 13, 2018-Neste announces EUR1.4bn renewable products production investment in Singapore

(C)2018 M2 COMMUNICATIONS http://www.m2.com

Neste Oyj (HEL:NESTE), an oil refining and marketing company located in Espoo, Finland, announced on Wednesday that it has made the final investment decision on additional renewable products production capacity in Singapore.

Reportedly, this decision is based on a growing global market demand for low-carbon solutions in transport and cities, aviation, polymers and chemicals.

This investment, worth approximately EUR1.4bn, will extend Neste's renewable product overall capacity in Singapore by up to 1.3 million tons per annum, bringing the total renewable product capacity close to 4.5 million tons annually in 2022.

Also, the company's target is to start up the new production line during the first half of 2022.

As a result of this 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 renewable product refineries are able to produce renewable...

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