Neste Oil to invest €920 million in 2010

Finnish refiner Neste Oil said it expects its investments to total €890 million (US$1.30 billion) this year, rising to €920 million (US$1.34 billion) in 2010, when a scheduled major maintenance turnaround at the Porvoo refinery is scheduled. Investment spending is expected to fall to some €350 million (US$510.09 million) in 2011 due to the completion of the two renewable diesel plants under construction in Singapore and Rotterdam. The company said it remains focused on delivering the trademark NExBTL renewable diesel plants in Singapore and Rotterdam, its two largest capital projects. The company’s 800,000 metric ton per year biodiesel plants in Singapore and Rotterdam are targeted for completion in 2010 and 2011, respectively. (September 29, 2009)