No, it is not possible. Celui is used as a "pronom démonstratif", meaning that you cannot use it as a "article défini" (le, la, les), which is what you need in your sentence.

Le livre rouge est plus intéressant que le bleu.

La cuisine parisienne est aussi délicieuse que la bordelaise.

Celui, or any other demonstrative pronoun, is meant to replace the subjects it refers to instead of repeating it again.

Je ne trouvais pas de crayon, j’ai donc pris celui de mon voisin.

An alternative to what you’re trying to say with the use of celui would be (as Lambie pointed out rightly) :

Le livre rouge est plus intéressant que celui qui est bleu.

This is technically "correct", but a bit wonky.