Eric Watkins
Senior Correspondent
LOS ANGELES, Dec. 3 -- Neste Oil of Finland said it will invest €550 million to construct the world's largest biodiesel plant in Singapore.
The plant, to have a capacity of 800,000 tonnes/year, will primarily use palm oil as feedstock, Neste Oil said, adding that it will use only palm oil certified by the Roundtable on Sustainable Palm Oil as soon as sufficient quantities are available—probably in early 2008.
Singapore was chosen because it is the world's third-largest center of refining and occupies a central location in terms of product and feedstock flows and logistics.
Construction of the plant will begin in first half 2008, and operations at the facility are expected to begin by yearend 2010.
Contact Eric Watkins at [email protected].
