Neste Oil, Stora Enso drop the plan to build biodiesel plant

ESPOO, FINLAND: Neste Oil and Stora Enso have decided not to progress with their plans to build a biodiesel plant, for which the two companies had applied for funding under the EU’s NER 300 programme. The European Commission recently published a review on its Web site of projects that have applied for NER funding, and Neste Oil’s and Stora Enso’s project is not among those listed as scheduled to receive this funding.

“We have calculated the cost of the project very carefully and realistically. It would have represented a very significant investment and we concluded that we would not have gone ahead in any case, even if we had won public funding. Technically speaking, our work was a great success and we are very satisfied with what we achieved. Cooperation between the two companies has also been very smooth and will continue in the future in the area of other bio-based products,” said Matti Lievonen, President & CEO, Neste Oil and Jouko Karvinen, CEO, Stora Enso.

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