Japan approves another $8.9bn in aid for TEPCO

Japan on Monday approved a fresh $8.9 billion in aid for the operator of the Fukushima nuclear plant as the company said it expected to lose a similar amount this year.

The decision means TEPCO stays solvent, but continues to run up costs as it struggles to clean up the mess left behind by reactor meltdowns and meet claims for compensation following the March 11 quake disaster and resulting nuclear crisis.

The 690 billion yen aid package was announced after Tokyo Electric Power revised up its estimate of what it would need to compensate victims of the worst nuclear accident in a generation, to 1.7 trillion yen from 1.01 trillion yen.

Read the rest of the story: Japan approves $8.9bn aid as TEPCO loss worsens.


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