News
28.05.2009
Neste Oil to build Europe's largest renewable diesel plant
Neste Oil announced on May 26 that the company laid the foundation stone for what will be Europe's largest renewable diesel plant with an annual production capacity of 800,000 tonnes.
The plant, which will be in the Port of Rotterdam, costs an estimated Ђ670 million and will create more than 100 jobs, according to the company.
"With this plant in the Netherlands, Neste Oil will become the leading renewable diesel producer supplying Europe from the Netherlands," said Matti Lievonen, president and chief executive officer of Neste Oil. "Our investment also signals Neste Oil's commitment to driving forward latest innovation with our NExBTL technology in Europe."
Neste said construction of Europe's largest renewable diesel plant in Rotterdam port would further strengthen the harbor's position as the leading biofuels hub in Europe.
"We are very pleased to have attracted this investment from Neste Oil, which is testament to Rotterdam's strength as a location attracting innovation and investment," said Ahmed Aboutaleb, mayor of Rotterdam. "With Neste Oil's investment, we are truly in the forefront of supplying Europe with the most advanced technology in renewable diesel."
The plant's 800,000 tonnes of production capacity will be a major step toward reaching the European Union's (E.U.) 10% renewable fuels target in transport, Neste said. The company said its proprietary technology, NExBTL, contributes to 40%-80 % reduction in CO2 emissions, and independent research has proven that it significantly reduces tailpipe emissions. In its current NExBTL production in Finland, Neste Oil uses palm oil, rapeseed oil and waste animal fat sourced from the food industry as feedstock.
"Our NExBTL renewable fuel is the most advanced diesel fuel that brings a cost efficient solution to reducing CO2 and local emissions," Jarmo Honkamaa, deputy CEO of Neste Oil and executive vice-president in its Renewable Fuels Business Area. "I am very happy to have this major investment in Rotterdam in the Netherlands, which is known as one of the leading E.U. member states in environmental questions."
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