04 Mar '11, 10am

Neste opens Singapore biodiesel plant, sector outlook bleak: It uses palm oil, palm oil products and animal fat

Neste opens Singapore biodiesel plant, sector outlook bleak: It uses palm oil, palm oil products and animal fat

SINGAPORE - Finland's top refiner Neste Oil will formally open its Singapore biodiesel plant, the world's largest, next week, even as the outlook for the renewable fuel remains bleak amidst soaring feedstock prices and uncertain regional demand. The Singapore plant, which cost 550 million euros (S$967.9 million) and has an annual capacity of 800,000 tonnes, started production in November. It uses palm oil, palm oil products and animal fat as feedstocks. Biodiesel producers are facing an uphill battle with rising palm oil prices, Chris De Lavigne, vice president of Industrial Practices at Frost & Sullivan, said. Multi-year high cost of the key feedstock is resulting in the fuel becoming more expensive than the regular one, leaving producers of the blended oil struggling to find buyers. "It's going to take a fair while before Neste gets their return on investment on the Sing...

Full article: http://www.asiaone.com/News/Latest%2BNews/Business/Story/...

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