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People & Business :: Earnings/Finance
Neste Oil Biodiesel Project Canceled
12:38 PM MDT | August 21, 2012 | Rebecca Coons
Neste Oil and Stora Enso, a forestry products company, announced they have decided to not progress with their plans to build a biodiesel plant after failing to receive funding under the European Union's NER300, a low-carbon energy financing program. "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," Neste Oil's President & CEO, Matti Lievonen, and Stora Enso's CEO...
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