NSE Biofuels to start EIA for biorefinery in Finland

(ADPnews) - Oct 11, 2010 - Finnish oil refining company Neste Oil Oyj (HEL:NES1V) said today NSE Biofuels Oy, its joint venture with local paper maker Stora Enso Oyj (HEL:STERV), will start environmental impact assessments (EIA) for a new renewable diesel refinery in Finland.

NSE Biofuels will evaluate sites in Porvoo and Imatra in southern and eastern Finland, respectively. The EIA is scheduled to start in early November and to last around a year. The Southeast Finland Centre for Economic Development, Transport and the Environment will be the official body for the assessment.

The refinery is expected to produce 200,000 tonnes of renewable diesel annually from wood biomass. The production process is currently being tested at Stora Enso's Varkaus facility and the trials are estimated to continue until 2011 at least. A decision to start commercial production is expected to be made at the beginning of 2011, upon completion of business plans and cost calculations.

NSE Biofuels chose Porvoo and Imatra locations due to the local availability of raw materials and the good logistic connections. In addition, Neste Oil's and Stora Enso's existing plants at Porvoo and Imatra would allow efficient annual utilisation of the heat energy to be produced at the biorefinery.

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