Japan Bails Out Plant That Caused Worst-Ever Nuclear Accident
Thursday, 10 May 2012
‘Tokyo Electric Power (Tepco), the company at the centre of Japan’s worst-ever nuclear accident, has been saved from collapse after the government in effect nationalised the firm by agreeing to inject 1 trillion yen ($12.5bn) in fresh capital.
Japan’s biggest utility has received at least 3.5tn yen in state support since three reactors at the Fukushima Daiichi nuclear power plant went into meltdown after being hit by a powerful tsunami on 11 March last year.
The trade and industry minister, Yukio Edano, said the capital injection was needed to ensure the utility company could continue to supply electricity to 45 million people, including residents of Tokyo.’
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