Posted on June 30, 2022
Neste Corporation has made the final investment of €1.9 billion ($2 billion) into new renewable products production capacity at the Port of Rotterdam, as customers’ demand for sustainability grows.
Neste’s current 1.4-million-ton capacity for renewable products in Rotterdam is the largest in Europe.
The Rotterdam refinery expansion investment is set to expand Neste’s renewable product capacity by 1.3 million tons per annum, bringing the total renewable product capacity in Rotterdam to 2.7 million tons annually – including 1.2 million tons for sustainable aviation fuel (SAF), a recent statement said.
The company is looking to start up the new production unit during 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 optimisation of our production and waste and residue raw material usage.”
Upon completion, the company said the Rotterdam expansion project will further increase its total production capacity of renewable products to 6.8 million tons by the end of 2026.
The terminal acts a hub for hydrogen imported in the form of ammonia from regions with ample natural gas and renewable resources such as the Middle East and North Africa to meet Europe’s expected future hydrogen deficit.