Vale (VALE -2.8%) tells FT it is preparing to build the world's largest single processing plant...

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (VALE -2.8%) tells FT it is preparing to build the world's largest single processing plant for palm oil in the Amazon rainforest by 2015 to cut its fuel costs and help develop the Amazon region. The project, which will cost more than $500M, will grow palm oil and convert it into biodiesel to run the company's machinery, ships, trains and trucks.