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CORRECTED - CORRECTED-JFE says to boost output in new 3-year plan

Wed Dec 12, 2007 11:40pm EST
 
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(Corrects second paragraph to say 570 billion yen capital spending concerns the current 3-year plan, not the next plan)

TOKYO, Dec 13 (Reuters) - JFE Steel Corp, the world's third-biggest steel maker, said on Thursday it planned to boost steel output by 10 percent to 33 million tonnes a year during its next three-year business plan.

JFE also said its board will approve 570 billion yen ($5 billion) capital spending in the current three-year plan ending in March 2009 to buy equipment and build facilities necessary for the output increase in the next three-year business plan.

That would be up from the original capital spending programme of 350 billion yen under the current mid-term business plan. (Reporting by Yuko Inoue)

 

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