Finnish renewable and sustainable fuel producer Neste is to buy Bunge Loders Croklaan’s refinery in Rotterdam, the Netherlands, for €258 million.
Bunge will lease back the facility as part of a phased transition until 2024, to allow it to continue to supply its customers. The full pre-treatment capacity is expected to be available to process Neste feedstock by the end of 2024.
The facility, which is next to Neste’s existing biorefinery and processes speciality oils, includes a pre-treatment facility, tank farm, jetties and a pipeline connection to Neste’s site.
Neste said the added pre-treatment and terminal capacity will support further growth in its production capacity, and enable it to meet the growing demand for renewable diesel, sustainable aviation fuel and feedstock for renewable chemicals.
The company will expand its annual renewable production capacity from 3.2 million tonnes now to 4.5 million tonnes by Q1 2023.
Neste’s president and CEO Peter Vanacker said: “The acquisition of the refinery plant supports our global growth strategy in renewables. It allows us to accelerate the scaling up of our renewable raw material pre-treatment capacity, which is an important driver for expanding the use of waste and residue feedstocks and increasing our feedstock flexibility.”
For more information visit www.neste.com