Singapore Friday kicked off the construction of Asia's largest renewable diesel refinery invested by a Finland-based oil company.
The plant was invested by Neste Oil with 1.2 billion Singapore dollars (about 0.77 billion U.S. dollars) to produce high quality biofuel from renewable feedstock.
The plant's capacity of 800,000 tons per annum makes it the largest facility producing diesel fuel from renewable feedstock in Asia.
"Despite the immediate challenges, we are confident that the outlook of the energy and chemicals industries remains positive," said Lim Hng Kiang, Singapore's Minister for Trade and Industry at the foundation stone ceremony of the refinery.
Over the next two years, Neste Oil will hire and train 100 personnel in Singapore, including engineers, technicians and operators, who will commence work in the facility.