Advertisement
UK markets open in 7 hours 46 minutes

  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     

  • HANG SENG

    16,828.93
    +317.24 (+1.92%)
     

  • CRUDE OIL

    83.43
    +0.07 (+0.08%)
     

  • GOLD FUTURES

    2,336.20
    -5.90 (-0.25%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • Bitcoin GBP

    53,212.41
    -745.95 (-1.38%)
     

  • CMC Crypto 200

    1,428.31
    +13.55 (+0.96%)
     

  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     

  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

Finland's Neste to build biofuels refinery in Rotterdam

Reuters
·1-min read

HELSINKI (Reuters) - Finnish biofuel producer and oil refiner Neste on Monday said it has chosen the Dutch port of Rotterdam as the location for its next renewable products refinery.

Neste said the new plant will be around the same size as the 1.5 billion euro ($1.79 billion) refinery expansion it is currently building in Singapore, which the company described as its biggest investment so far.

The Singapore unit produces renewable fuels, mainly from waste and residues such as used cooking oil, animal fat from food industry waste, fish fat from fish processing waste and residues from vegetable oil processing.

After a thorough study, Rotterdam was chosen as location for a European refinery over Finland's Porvoo due to lower costs, the company said.

ADVERTISEMENT

The decision will come as a disappointment to the Finnish government which owns 44.2% of the company and had hoped the new refinery would bring jobs and tax income to Finland.

Neste said it expects to make a final investment decision in late 2021 or early 2022.

(Reporting by Essi Lehto, editing by Terje Solsvik)