Neste plans $2B spend to expand Rotterdam renewable products capacity

Jun. 27, 2022 4:14 PM ETNeste Oyj (NTOIF)NTOIYBy: Carl Surran, SA News Editor1 Comment

Engineers and staff communicate on site in chemical plant

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Neste (OTCPK:NTOIF) said on Monday it made a final investment decision to spend €1.9B (~$2B) to nearly double its renewable products capacity in Rotterdam to 2.7M tons/year, including 1.2M tons/year for sustainable aviation fuel.

The Finnish biofuels producer had delayed the project in April, saying it was not ready to proceed given the geopolitical situation and possible implications for costs.

If the Rotterdam expansion project starts production during H1 2026 as planned, Neste's (OTCPK:NTOIF) total company-wide production capacity of renewable products would rise to 6.8M tons by the end of 2026.

Citing exceptional margins for gasoline and diesel in northwestern Europe, Neste (OTCPK:NTOIF) recently raised its Q2 guidance.

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