Marathon Petroleum and Neste will build a renewable fuel plant

Marathon Petroleum and Neste will form a joint venture to build a renewable diesel fuel plant. The production capacity will be 730 million gallons per year. Investment in the project is estimated at $1.2 billion. The plant is scheduled to start up in the 2nd half of 2022 and reach full capacity by the end of 2023. The partners will each own 50% of the joint venture.