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Neste Jacobs to execute the integration project of the new Kilpilahti Power Plant in Porvoo, Finland

ESPOO, Finland, March 17, 2016 (GLOBE NEWSWIRE) -- Neste Jacobs has been awarded the execution of the infrastructure integration project of the new Kilpilahti Power Plant ("KPP"). The total investment value of the joint project between Neste, Veolia and Borealis is about EUR 400 million and the plant is scheduled for commissioning in 2018.

Neste Jacobs' scope of work includes e.g. a new demineralized water plant and related automation systems, a new electrical room, a new control room and an office building. Neste Jacobs has earlier carried out basic engineering of the Power Plant and in the execution phase it will implement connections to integrate the new Power Plant to the existing systems of Neste's refinery and Borealis' petrochemical plants.

"The project now awarded to Neste Jacobs is an excellent example of industrial infrastructure and integration project for which we have a strong track record", says Jarmo Suominen, CEO of Neste Jacobs.

"Neste Jacobs was the obvious choice for this project due to their experience of working in Kilpilahti area and during the basic engineering phase. They also have a profound understanding of the various aspects of this important project", states Mr Kari Kolsi, Managing Director of KPP.

KPP is a joint venture between Neste (40%), Veolia (40%) and Borealis (20%). The new Power Plant will have steam generation capacity of 450 MW and electricity generation capacity of 30 MW. It will be constructed in line with the latest environmental regulations, including the European Commission's Industrial Emissions Directive (IED), and it will notably reduce carbon dioxide emissions compared to the current situation. It is also a good example of resource efficiency and circular economy since more than 80 percent of the fuels (e.g. asphaltene) that will be used in the new power plant will be side streams from the refinery or petrochemical plants.

For more information, please contact:
Jarmo Suominen, CEO, Neste Jacobs Oy, tel, +358 50 458 3399
Kari Kolsi, Managing Director, Kilpilahti Power Plant Oy, +358 50 458 2317

Neste Jacobs is a preferred solution provider of high-quality technology, engineering and project services for a wide range of industries in the fields of oil and gas, petrochemicals, chemicals, biorefining, biochemicals, biopharma and industrial infrastructure. We have 60 years of experience in technology development and industrial investment projects as well as maintenance and performance improvement in Europe, North and South America, Asia and the Middle East. In addition to our home market Nordic countries we are looking to grow in the global expanding markets. We employ 1300 professionals globally. www.nestejacobs.com

Neste is a pioneer in oil refining and renewable solutions. We provide our customers with premium-quality products for cleaner traffic and industrial products based on world-class research. We are the world's leading producer of renewable diesel, and our annual production capacity is more than 2 million tons. We also are the world's largest company providing renewable fuel from waste and residues. Our sustainable operations have received recognition in the Dow Jones Sustainability World Index and the Global 100 list of the world's most sustainable companies, among others. Our net sales for 2015 amounted to approximately EUR 11 billion, and our shares are listed on NASDAQ Helsinki. Cleaner traffic, energy and life are moved forward by about 5,000 professionals. More information: neste.com/en

Veolia group is the global leader in optimized resource management. With over 174 000 employees worldwide, the Group designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them. In 2015, the Veolia group supplied 100 million people with drinking water and 63 million people with wastewater service, produced 63 million megawatt hours of energy and converted 42.9 million metric tons of waste into new materials and energy. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €25 billion ($30.3 billion) in 2015. www.veolia.com

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, the company currently has around 6,500 employees and operates in over 120 countries. Borealis generated EUR 7.7 billion in sales revenue and a net profit of EUR 988 million in 2015. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% belonging to OMV, an international, integrated oil and gas company based in Vienna. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).

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Source:Neste Corporation