Neste to invest $2 billion in nearly doubling biobased diesel production capacity in Rotterdam
Neste Corp. has made the final investment decision to significantly expand biobased diesel production capacity in Rotterdam, the Netherlands. The company will spend 1.9 billion euros (USD$2 billion) to almost double capacity from nearly 475 million gallons per year (mgy) to close to 915 mgy.
Roughly 44 percent of its total, expanded renewable production capacity in Rotterdam, or approximately 406 mgy, will be capable of refining sustainable aviation fuel (SAF).
Neste plans for the expanded production capacity to come online in the first half of 2026.
“The investment in the expansion of our Rotterdam refinery strengthens our global leading position in renewable products,” said Matti Lehmus, president and CEO of Neste. “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. 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 currently has a renewable products global production capacity of more than 1.1 billion gallons per year (bgy).
The company’s ongoing Singapore expansion project and the joint venture with Marathon Petroleum in Martinez, California, which has yet to officially close, will increase Neste’s total production capacity of biobased diesel to more than 1.86 bgy by the end of 2023, making Neste “the only global provider of renewable fuels and renewable feedstock for polymers and chemicals with a production footprint on three continents,” the company stated.
When completed, the Rotterdam expansion project will further increase the company’s total production capacity of renewable products to 2.3 bgy by the end of 2026.