Neste, OMV plan biofuels plant in Austria

Neste Oil Corp. and OMV AG have signed a memorandum of understanding to jointly build a 200,000 tonne/year biodiesel plant at OMV's 208,600 b/cd Schwechat refinery in Austria.

March 27, 2006

By OGJ editors
HOUSTON, Mar. 27 -- Neste Oil Corp. and OMV AG have signed a memorandum of understanding to jointly build a 200,000 tonne/year biodiesel plant at OMV's 208,600 b/cd Schwechat refinery in Austria.

The plant will be based on Neste Oil technology for producing high-quality diesel from renewable raw materials, such as vegetable oil and animal fat. It is an effort to meet the European Union's challenge for member states to increase biofuel usage to 5.75% of all gasoline and diesel used in traffic by 2010.

The facility is expected to start production as early as yearend 2008.