JFE to spend $890 mln for CO2 cuts, energy savings

TOKYO, Dec 13 (Reuters) - JFE Steel Corp, the world's third-biggest steel maker, said it would spend 100 billion yen ($890 million) by March 2009 to cut carbon dioxide emissions and take other energy-saving steps.

Hajime Bada, president of JFE Steel, the core unit of JFE Holdings Inc (5411.T: Quote, Profile, Research, Stock Buzz), said in a briefing on Thursday that the company would increase the use of steel scrap and build necessary facilities to reduce carbon dioxide emissions.

Bada said the measures would cut the company's carbon dioxide emissions by 4.2 million tonnes a year by March 2009. (Reporting by Yuko Inoue)