Neste Oil Corporation
Press Release
18 October 2005
"Neste Oil’s Porvoo refinery celebrated 40 years of operation today with the laying of the foundation stone of the site’s new biodiesel plant. The company is investing approx. EUR 100 million in the new facility, which will produce some 170,000 t/a of biodiesel when it comes on line by summer 2007. Based on Neste Oil-developed proprietary technology, the plant will use 100% renewable raw materials, in the form of vegetable oils and animal fats."
Finland’s Minister of Trade and Industry, Mauri Pekkarinen, laid the foundation stone.
"“The new plant has the potential to enable Finland to meet the traffic biofuel goals set out by the European Union for 2010 three years earlier, in 2007, if the will is there,” continued Kimmo Rahkamo, Executive Vice President of Neste Oil’s Components division. “Ensuring that biofuels can come on to the market will call for measures from government, in the form of tax breaks, for example. A recent study shows that 84% of Finns support the idea of tax breaks for bio-based traffic fuels.”"
