Finnish oil refining and marketing company Neste has announced plans to build a new hydrogen production unit.
The 100-million-euro facility will be located in Porvoo, some 50 kilometres east of Helsinki. The plant is a joint venture with industrial gas company AGA, which will construct the plant to supply hydrogen to Neste's Porvoo refinery. The proposed unit will replace one of two older hydrogen production facilities at the refinery.
The positive news follows on the heels of recent announcements by two Finnish companies that they are planning to make significant investments. Metsä Group will build a 1.1 billion euro bio-pulp mill with a production capacity of 1.3 million tonnes in Äänekoski, central Finland, while papermaking giant Stora Enso announced last Friday that it will make a 110-million-euro investment in its factory in Varkaus, eastern Finland.