Finnish oil company Neste has started preparing to build what they are claiming will be the biggest biodiesel production facility in the world in Singapore. The company has invested about 550 million EUR (about $800 million US) in a plant that will be able to produce about 800,000 tons of biodiesel per year. Construction is expected to start in early 2008 and be completed by the end of 2010.
Despite some concern from environmental groups and research institutes, Neste is going to produce biodiesel from palm oil. They chose Singapore as site for such a big facility is because it has the world third-largest oil refining complex. It's also very close to palm oil-producing countries. Neste already has a biodiesel factory in Porvoo (Finland) that produces about 170,000 tons of biodiesel per year.

Neste states that this facility is going to use the company's new NExBTL, claimed to be a "second generation biodiesel manufacturing process." The process can use any kind of fatty acids as a raw material. Neste also said that NExBTL has a higher quality than standard oil diesel and has about 40 to 60 percent less global CO2 impact.

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[Source: Agencia EFE via Econoticias]

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