JFE Steel to Invest 135 Billion Yen in Fiscal 2007

JFE Steel, Japanese major integrated steel maker, announced on Wednesday the firm decided the investment plan to increasing by 2.2 billion yen to 135 billion yen based on construction in fiscal 2007 at the ended of March 2008 compared with fiscal 2006. The amount of the investment is at 150 billion yen based payment. The firm will continue higher investment at over 130 billion yen based construction from fiscal 2005. Blast furnace relining was finished by fiscal 2006. The firm will build up other equipment for high grade steel product such as seamless steel tube, and for environmental measure such as shaft furnace or coke dry quench (CDQ). The investment increases by 19 billion yen to 58 billion yen for East Japan Works in fiscal 2007 from fiscal 2006, while decreases by 13 billion yen to 68 billion yen for West Japan Works and by 4.5 billion yen to 7 billion yen for Chita Works. The investment is at 15 billion yen for the enhancement of the productive equipment for middle size seamless steel tube in China Works, at 10 billion yen for shaft furnace construction in Keihin are of East Japan Works, at 13 billion yen for pickling line in Keihin area, at 6 billion yen for the introduction of oxygen productive plant in Chiba area of East Japan Works, at 9.5 billion yen for CDQ construction in Kurashiki area of West Japan Works.The firm’s investment kept at about 85 billion-100 billion yen based construction for fiscal 2000-2003, which was 112 billion yen in fiscal 2004 and 139.6 billion yen in fiscal 2005.