December 12, 2017 / 2:23 PM / 4 months ago

UPDATE 1-Finland's Neste picks Singapore for new biofuel plant

(Adds detail, Neste quote)

HELSINKI, Dec 12 (Reuters) - Neste has chosen Singapore over United States as the site for its planned new biofuel plant, the state-controlled Finnish company said on Tuesday.

The firm, which has shifted more focus to biofuel diesel, said it had started a technical design for the new production line and aimed to make a final investment decision by the end of 2018.

Kaisa Hietala, head of Neste’s renewables business, told Reuters, that the firm had assessed both locations. “In the end, Singapore was the stronger of the two,” she said, without giving reasons.

If the project proceeds, production would begin by 2022 and would extend capacity in the Singapore refinery by 1 million tonnes.

Neste said the additional capacity would be used for production of diesel, aviation fuel and raw materials for biochemical uses, all of them biofuels which can be made from feedstocks such as waste and animal fats.

Neste already has refineries to process biofuels in Singapore and Rotterdam with a total production capacity of 2.6 million tonnes. It has two conventional refineries in Finland. (Reporting by Tuomas Forsell; Editing by Jason Neely)

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