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Neste has agreed to acquire a refinery in Rotterdam, the Netherlands, from the joint venture Bunge Loders Croklaan for about $300 million. The port-accessible plant is next to Neste’s existing biorefinery and has a pipeline to the Neste site. Neste, which produces renewable fuels and chemical raw materials, says it will use the refinery’s pretreatment facility to expand its use of waste vegetable oil and agriculture residue feedstocks. The company says it will boost overall production of renewables about 40% to 4.5 million metric tons by early 2023.
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