08 Mar '11, 1pm

Neste Oil's S'pore plant to market renewable diesel overseas

Neste Oil's S'pore plant to market renewable diesel overseas

SINGAPORE : Neste Oil has said its giant biodiesel plant in Singapore, which mainly uses palm oil as a raw material, will be able to sell its renewable diesel to Germany. It is also looking at North America as a potential market. This comes as increasing feedstock prices, including palm-oil prices, prompt concerns about rising costs faced by biodiesel plants worldwide. Neste Oil said its Singapore plant has received a key certification; the International Sustainability & Carbon Certification (ISCC) requires minimisation of greenhouse gas emissions and preservation of biodiversity during the production of biofuels and bioenergy. Although the certification is specific to Germany, Neste Oil hopes this will help it enter new markets, especially in North America. Completed on schedule, the high-technology plant started operations in November, and cost 550 million euros to build...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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