In March 2020 Neste announced its intention to increase renewable products production capacity in Europe according to the company strategy.
The company has now concluded a thorough study phase concerning the two possible locations, Porvoo, Finland and Rotterdam in the Netherlands.
Neste has existing sites in both locations. While there are many positive drivers for both sites, the difference between the costs is significant in favour of Rotterdam.
“I appreciate the open dialogue we have had with the authorities both in Finland and in the Netherlands throughout the study phase. We have witnessed a constructive approach to find the best solutions to support our future growth”, said Peter Vanacker, president and CEO of Neste.
“Based on thorough studies and calculations, the overall cost of the investment is significantly lower in Rotterdam. Our decision relies on ensuring our future competitiveness and our renewables’ growth strategy execution.”
The key aspects contributing to the overall cost difference are logistics costs, site-specific construction costs and availability of low-carbon hydrogen supply.
Neste is aiming for a final investment decision from the board of directors towards the end of 2021 or early 2022.
For more information visit www.neste.com