Valero Energy Corp (VLO)

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$VLO Valero, Darling plan $1.1B upgrade of renewable diesel refinery

Valero Energy (NYSE:VLO) and partner Darling Ingredients (NYSE:DAR) say they will spend a combined $1.1B to expand their joint venture Diamond Green Diesel refinery in Norco, La.

The expansion project will increase renewable diesel production capacity at the site by 400M gal/year to more than 675M gal/year, according to a release from the Louisiana Economic Development Council.

The Diamond Green Diesel facility can convert 2.3B lbs. of recycled material such as animal fats, inedible corn and used cooking oil into 2.75M gal/year of renewable diesel.

Also this week, VLO said it would spend $400M to expand the alkylation unit at its St. Charles Refinery in Louisiana, increasing capacity to convert isobutane and low-modular-weight alkenes into alkylate.