Finnish oil refining and marketing firm Neste Corporation will invest approximately €1.9 billion in the expansion of its renewable diesel and aviation fuel production capacity at its Rotterdam refinery.
The decision to expand production capacity is based on the observed substantial increase in demand for renewable products as customers set high climate goals.
The current capacity at the plant is 1.4 million tons and with the expansion, this capacity will increase to 2.7 million tons annually. Sustainable aviation fuel production capacity will be 1.2 million tons of the total capacity.
“The investment in the expansion of our Rotterdam refinery strengthens our global leading position in renewable products. It also marks an important step in ensuring our future competitiveness and our renewables’ growth strategy execution as it will bring a substantial amount of renewable diesel, SAF and renewable feedstock for polymers and chemicals to our sustainability-focused customers,” says Matti Lehmus, President and CEO of Neste.
Lehmus added, “This investment will further strengthen our competitive advantages which are based on the global optimization of our production and waste and residue raw material usage. With our proprietary NEXBTL™ technology, high quality renewable products can be refined flexibly from a wide variety of lower quality waste and residues. The new production line - together with our Singapore expansion - will be best in class in terms of energy efficiency and raw material flexibility.”
Neste aims to have this production unit up and running in the first half of 2026.
Currently, Neste has a global renewable products production capacity of 3.3 million tons annually. Once its Singapore expansion project and a joint venture with Marathon is closed, the production capacity will increase to 5.5 million tons. The Rotterdam expansion will increase capacity further to 6.8 million tons by the end of 2026.
Once the Singapore project and the joint venture is complete by the end of 2023, Neste says it will become the only global provider of renewable fuels and renewable feedstock for polymers and chemicals with a production footprint across three continents.
