Following up from the €1.4 billion investment to expand its renewable products production capacity in Singapore, Neste held a foundation stone ceremony to officially mark the extension of the new production line. The construction started at the beginning of the year.
"The Singapore expansion marks an important step in the execution of our growth strategy for renewables globally and the beginning for the world's most unique and advanced refinery for renewables.," said Peter Vanacker, President and CEO of Neste.
"Besides collaborating in innovation, one of the ways we are developing these win-win partnerships is by developing a trusted, digitized and resilient supply chain network. This is critical for refinery operations. We are also developing new capabilities in managing and greening our supply chains to meet the demands of firms like Neste," added Singapore's Senior Minister and Coordinating Minister for Social Policies, Tharman Shanmugaratnam.
In addition to producing renewable diesel, all Neste's renewable product refineries are able to produce 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.
"We are determined to serve our customers and the industry in reducing carbon emissions. With the Singapore expansion, we will have the capacity to produce over one million tonnes of sustainable aviation fuel annually," Vanacker continued.
The Singapore expansion 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. Neste's target is to start up the new production line in Singapore during the first half of 2022.