ASEAN KEY DESTINATIONS
Singapore: Neste’s biofuel plant targets cars in Europe
Diesel made from palm oil, vegetable oil and animal fat in Singapore may soon be powering cars in Europe and North America, AFP quoted Finland's Neste Oil as saying Saturday.
Neste Oil, which is building the world's biggest biodiesel plant in the city-state at a cost of S$1.2 billion ($776 million), said it was also looking to market the fuel in Japan and South Korea.
The plant will have an annual capacity of 800,000 tonnes when it becomes operational next year.
NExBTL can be used in all diesel engines and significantly reduces exhaust emissions compared with regular diesel, the company said.
The plant was originally planned to target the European market, Neste Oil deputy chief executive Jarmo Honkamaa told reporters during a media visit to the plant site, which is 30 per cent complete.
"We know now already that part of the volume will go to North America... the west coast of Canada."
Company executives said the move towards cleaner fuel worldwide in a bid to reduce global warming was likely to drive demand.
Neste Oil was also talking with companies in Japan and South Korea to buy the renewable diesel, Honkamaa said, adding that Singapore would also be a potential market.
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