FINNISH energy giant Neste will be expanding its existing facility in Tuas, making Singapore the site of the firm’s largest renewable products plant. It will account for about half its global production capacity of 4.5 million tonnes annually by 2022.
The company is currently the only one offering renewable diesel on a global basis, according to Neste chief executive officer and president Peter Vanacker. The expansion will increase renewable fuel output from 1 million tonnes per year to 2.3 million, while the plants in the Netherlands and Finland account for the rest of its production capacity. With the new facility, Singapore will also become Neste’s first site to produce renewable jet fuel at a commercial scale as the company expands its product slate beyond renewable diesel.
This was announced by Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam in his speech at Neste’s foundation stone ceremony on Wednesday to mark the extension of the new production line. In his speech, Mr Tharman said that the upcoming expansion will create over 100 local jobs, and commended the firm for its commitment and emphasis on training.
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