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04-02-2013

Neste Oil to invest €65 million in enhancing gasoline production at Porvoo

Neste Oil to invest EUR 65 million in enhancing gasoline production at Porvoo Neste Oil has decided to build an isomerization unit at its Porvoo refinery. The investment, valued at approx. EUR 65 million, is intended to increase the output of high-octane gasoline and improve refining flexibility at the site.

"When the new isomerization unit is completed in 2015, we will be able to refine higher volumes of premium-quality gasoline that commands a higher price on export markets," says Matti Lehmus, Neste Oil's Executive Vice President, Oil Products and Renewables. "In addition to its importance for Neste Oil, the new unit represents a major industrial investment nationally in Finland."

The isomerization unit will have a capacity of 600,000 t/a. Construction will begin this year and the unit is due to come on stream in spring 2015. The project will generate 60 man-years of employment.

Neste Oil took the initial decision to make the investment in 2008, but announced in 2009 that it would postpone the project until the market situation improved. Neste Oil believes that the demand for cleaner fuels, such as high-octane, low-sulfur gasoline, is continuing to grow globally.

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