Neste Oil Takes Major Step Forward in Renewable Diesel Production

BANGALORE, INDIA--November 19, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Neste Oil (HEL:NES1V) (Keilaranta, Finland) invested approximately 550 million euros ($749.91 million) to build a renewable diesel plant in Singapore. The company recently announced that the plant was completed on schedule and on budget. Neste Oil's investment is part of its strategic plan to become a leader in renewable diesel production worldwide. This is the first step in its aim to work toward clean traffic fuel technology. The main features of the plant include the use of renewable feedstocks that are easily available worldwide. NExBTL, the product, will be able to blend into the existing market seamlessly. The current target markets are Europe and North America.