The green fuel site would be near Grangemouth's crude oil refinery

The town is home to a refinery operated by the company - Ineos Enterprises.

It said if permission is granted, its biodiesel plant would aim to produce annual output of half a million tonnes, starting in mid-2008.

A spokesperson for Falkirk Council confirmed that an application had been received by the council.

It is understood that there are a number of complex issues to be studied by officials.

'Alternative fuel'

INEOS, the UK's biggest privately-owned company, currently has one other biodiesel facility in France.

As well as the Grangemouth site, the company is planning to build three more sites in Belgium, Germany and a second one in France.

The Grangemouth development has been valued at £65m.

Biodiesel is an alternative fuel made from renewable sources like vegetable oils. It can either be mixed with petroleum-based diesel or, in some industrial processes, used on its own.