TOKYO, Oct 19 (Reuters) - Japan Nuclear Fuel Limited (JNFL) hopes to finish construction of a long-delayed nuclear fuel reprocessing plant in the first half of fiscal 2024, a company official said, as Japan looks to freeing storage space amid reactor restarts.

Energy-poor Japan has so far restarted 12 nuclear reactors after shutting down all reactors following the Fukushima disaster in 2011, counting on nuclear energy to reduce dependence on coal and liquefied natural gas imports as it aims to reach carbon neutrality by 2050.

JNFL, co-owned by a number of companies including Tokyo Electric Power and Kansai Electric Power, owns the Rokkasho reprocessing plant in Aomori prefecture in northern Japan which it aims to complete between April and June next year, the official said.

Japan has about 19,000 metric tons of spent nuclear fuel in storage, or 80% of total capacity, according to the Ministry of Economy, Trade and Industry. Spent fuel is held at Japanese utilities sites and by the JNFL.

Some 95%-97% of used nuclear fuel could be recycled to be used at power plants. The Rokkasho facility would allow reprocessing of fuel from 40 reactors of 1 gigawatt (GW) capacity each, or 40 GW of nuclear power annually.

"Since Japan has scarce natural resources, it is very important to effectively utilize spent fuel as a source of energy," the official said.

Nuclear power is one of a few options to balance Japan's energy needs in case of supply disruptions. Japan is dependent on the Middle East for a significant part of its fossil fuel needs.

Once ready, the facility would need to get a green light from Japan's Nuclear Regulatory Authority to start operation. It would gradually increase reprocessing capacity to 800 tons of uranium annually by fiscal 2031, according to the official.

Construction of the facility started in 1993 but completion has been delayed many times as Japan has been putting stricter safety regulation for the nuclear industry after the Fukushima disaster. (Reporting by Katya Golubkova and Yuka Obayashi and; Editing by Varun H K)