Finnish renewable diesel producer Neste has closed the acquisition of Bunge Loders Croklaan’s refinery plant located in Rotterdam, the Netherlands, for €258m ($310.7m) following regulatory approval.
Located next to Neste’s existing biorefinery, Bunge’s refinery plant comprises a pretreatment facility, tank farm, jetties, and has a pipeline connection to Neste’s site.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The transition of operations and staff is planned to be implemented in phases. The full pretreament capacity of the refinery is expected to be available to process Neste’s feedstock by the end of 2024.
Neste president and CEO Peter Vanacker said: “The completion of this acquisition is an important step forward in delivering on Neste’s global growth strategy in renewables.
“It allows us to accelerate the scaling up of our renewable raw material pretreatment capacity, which is an important driver for expanding the use of waste and residue feedstocks and increasing our feedstock flexibility.
“We are committed to increasing the share of waste and residues to 100% of Neste’s total renewable raw material inputs at the latest by 2025, and growing our production platform to help customers reduce greenhouse gas emissions by 20 million tonnes annually by 2030.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe acquisition is part of Neste’s efforts to further expand pretreatment capacity and terminal infrastructure to manage increasingly complex waste and residue feedstocks.
Neste plans to expand its annual renewables production capacity from 3.2 to 4.5 million tonnes by the first quarter of 2023.
As part of its growth strategy, Neste bought 100% of the Count Terminal Rotterdam BV and its supporting entities last year.
