France, Sept. 3 -- British oil giant Shell announced Wednesday it has abandoned construction of one of Europe's largest biofuel plants in the Netherlands, as it focuses on its fossil fuels business.

Faced with weak market conditions, the company last year suspended construction of the renewables biofuel factory in Rotterdam that was intended to produce sustainable aviation fuel (SAF) and diesel from waste.

"As we evaluated market dynamics and the cost of completion, it became clear that the project would be insufficiently competitive," Machteld de Haan, Shell's downstream, renewables and energy solutions president, said in a statement.

The project was first announced in 2021 as part of plans to help Europe meet internationally binding ...