Neste announced the opening of its expanded Singapore facility that will almost double Neste’s production capacity in Singapore and bring the total capacity to 2.6 million tons annually of which up to one million tons can be sustainable aviation fuel (SAF). Neste has invested € 1.6 billion for the expanded facility.
Celebrating the grand opening, Matti Lehmus, President and CEO, Neste said: “This marks another important milestone in our renewables growth strategy execution. The completion of the construction of the refinery is a remarkable achievement given the complexity of the project and as it was carried out during a global pandemic. I want to express my sincere and warmest thanks to all our partners and employees who have been part of this project.”
Neste is committed to supporting the aviation industry globally in achieving the goal of net-zero emissions by 2050. Also, Neste is pleased to support Singapore in achieving its ambitious emission reduction targets as part of the Green Plan 2030 and Sustainable Air Hub Blueprint under preparation for completion later in 2023.
“In addition to being a global hub for Neste’s SAF production, we have established an integrated SAF supply chain to Singapore Changi Airport to make our product available to an increasing number of regional and international airlines,” said Sami Jauhiainen, acting Executive Vice President, Renewable Aviation business unit, Neste. “The neat SAF is produced at our refinery located in the Tuas area of Singapore, then blended together with conventional fossil jet fuel and certified to meet jet fuel specifications at the blending terminal in Singapore, and finally delivered to our customers at Changi Airport.”
Neste is about to acquire a stake and become a minority shareholder in Changi Airport Fuel Hydrant Installation Company Pte Ltd (CAFHI), the fuel storage and infrastructure joint venture in the airport to offer blended Neste MY Sustainable Aviation Fuel directly to airlines at Changi.
The transaction is subject to the fulfilment of customary closing conditions.