Japan plans to borrow $30 billion for Fukushima cleanup

[unhappycamper]

http://www.opednews.com/articles/Japan-plans-to-borrow-30-by-RT-TV-Compensation_Fukushima_Fukushima-Meltdown_Funding-131112-732.html



Japan plans to borrow $30 billion for Fukushima cleanup
General News 11/12/2013 at 17:29:04
By RT TV

Japan's government is allegedly finalizing plans to borrow some $30 billion for the cumbersome cleanup of the Fukushima nuclear power plant and the surrounding region, as well as compensating evacuees, Reuters reports citing sources.

The borrowing of three trillion Japanese Yen was spurred by months of botched efforts, nature's surprises and human error. When the Tokyo Electric Power Company (TEPCO) realized that the figure would be too high, the Japanese Government stepped in. But it now appears that more funds are necessary for the multi-billion dollar effort.

Targets for reducing radiation levels and eradicating nuclear fallout in the areas have likewise not been met.

This new borrowing initiative will put the total costs set aside for Fukushima at $80 billion. This excludes the cost of shutting down the actual reactor units, which is projected to take several decades and cost the government around $150 billion.

[exboyfil]

1. The shareholders should have been wiped out

along with the bond holders. That would be a lesson to anyone else wanting to invest in nuclear power.

"I thought my holding of Tepco shares would become worthless after the disaster at the Fukushima Daiichi plant," said one shareholder. "Instead, the share price is still hovering around ¥100 or ¥200. I believe the management has done a good job."

Tepco shares closed at ¥155 Wednesday, down more than 90% from about ¥2,100 before the disaster.

http://online.wsj.com/news/articles/SB10001424052702303561504577492331995963886

They just don't get it.

Comments section:

TEPCO have spent billions rebuilding its second Fukushima nuclear power plant without any real hope of ever getting permission to restart the reactors since the governor of Fukushima stated he would oppose restarts of any reactors in the prefecture. The second plant is only about 9 km from the nuclear disaster and is still getting higher levels of radiation than would normally be allowed at any plant. Its safer indoors than out.

http://www.japantoday.com/category/national/view/tepco-faces-angry-shareholders-at-4-hour-meeting