Neste’s planned Singapore biodiesel plant on track

04 November 2008 10:40  [Source: ICIS news]

SINGAPORE (ICIS news)--Finnish Neste Oil is on track to complete its €500m ($633m) biodiesel plant in Singapore as project financing has not been affected by the credit crisis, a senior company official said on Tuesday.

The 800,000 tonne/year plant, located in the Tuas industrial zone, was on schedule to come on stream in mid-2010, said Jarmo Honkamaa, the company’s deputy CEO and executive vice president at the 2nd Singapore Energy conference.

Australian biodiesel company Natural Fuels would be starting its palm-based biodiesel plant in Singapore early this month after months of delays due to high feedstock costs.

($1 = €0.79)

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By: Bohan Loh
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