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Neste to produce 500,000 tons of biodiesel in Europe by 2009

Neste Oil Oyj, Finland's sole oil refiner, expects to produce as much as 500,000 tons of biodiesel from three plants in Europe by 2009.

The company is investing “over €2 billion” ($2.5 billion) in the next decade to become the world's largest producer of biodiesel, Executive Vice President Kimmo Rahkamo said in an interview in London today. Neste will start producing biodiesel from a refinery in Porvoo, Finland, in the summer of 2007 with a maximum capacity of 170,000 tons. It will open two 200,000 ton plants in Dunkirk, France, in partnership with Total SA, and Schwechat, Austria, with OMV AG by 2009, Rahkamo said. (Bloomberg)