Neste’s Crude Oil Refinery in Finland to be Transformed Into Renewable and Circular Solutions Refining Hub
Neste expects long-term capacity of the hub after the transformation to be about 3 million tons of renewable and circular products.
(Porvoo, Finland) Finnish refiner Neste, a leading producer of sustainable aviation fuel, renewable diesel and renewable feedstock solutions, has announced its plan to exist fossil fuels with the initiation of a gradual transformation of its crude oil refinery in Porvoo, Finland into a renewable and circular solutions refining hub.
The planned transformation will proceed in phases, and requires multiple separate investment decisions during the next decade before targeted completion in the mid 2030s, according to a press release from Neste.
The company expects the long-term capacity potential after the transformation to be about 3 million tons of renewable and circular products, such as renewable diesel, sustainable aviation fuel and both renewable and circular feedstock for the polymers and chemicals industry. The total investment estimate for the transformation roadmap is approximately 2.5 bill euros ($2.74 billion).
