Neste Oil to Soon Start Diesel Plant in Singapore
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Neste Oil Oyj will soon begin making low-emissions diesel at a 550 million-euro ($762 million) plant in Singapore, ramping up production of renewable fuels that may provide a third of earnings after 2012, a company official said.
“We’re very close to start-up,” Jarmo Honkamaa, deputy chief executive officer of Neste Oil, Finland’s only petroleum refiner, said yesterday in a telephone interview. “We’re well on time and within the budget” for the project, which uses plant and animal products as feedstock.