01/12/2007 (Xinhua), HELSINKI,  -- The Finnish company Neste Oil planned to build the world's largest bio-diesel plant in Singapore, Finnish media reported Saturday

The new plant, with an annual capacity of 800,000 tons, is expected to be completed in late 2010.

It will use the company's proprietary NExBTL technology, which is the first commercial new-generation renewable diesel production process that can use any vegetable oil or animal fat as its input.

The main raw material planned for the new plant will be palm oil.

The NExBTL Renewable Diesel is a premium-quality fuel that outperforms conventional fossil diesel fuel that can be used in existing vehicles without alterations to machinery.

It is also a good performer in environmental terms. When produced from sustainably sourced raw materials, its total lifecycle greenhouse gas emissions are 40 to 60 percent less than those of conventional diesel fuel.

In addition, NExBTL has lower tailpipe emissions.

Neste Oil will invest about 550 million euro (810 million U.S. dollars) in building the plant, which forms part of Neste Oil's strategic goal of becoming the world's leading producer of renewable diesel.