| Japan to inject 12.5 bln USD into troubled nuclear plant operator |
| Last Updated(Beijing Time):2012-05-10 09:26 |
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The Japanese government decided Wednesday to provide 1 trillion yen (about 12.5 billion U.S. dollars) in public funds to the operator of the troubled Fukushima Daiichi nuclear power plant to assist it in dealing with its financial problems.
Tokyo Electric Power Co., the largest utility in Japan, will be put under temporary state control. The move is part of a restructuring plan following the country's worst nuclear disaster in March last year.
The company known as TEPCO has been confronted with such daunting tasks as the massive compensation payments related to the disaster and decommissioning the damaged reactors. The utility is also requested to ensure stable supply of electricity to areas including Tokyo.
TEPCO has announced its new management and pledged to cut more than 3.37 trillion yen in costs over 10 years through fiscal 2021.
Several of TEPCO's reactors melted at the Fukushima plant in the world's worst nuclear accident since Chernobyl triggered by the earthquake and tsunami last year, leaking radioactive substance into the environment.
The company's reactors have been off-line due to maintenance after the accident. And, restarting nuclear reactors in Japan is difficult because the nuclear accident at the Fukushima plant has generated concerns about the safety of nuclear power. |
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