Latest News:  
Beijing   Sunny    17 / 4   City Forecast

People's Daily Online>>World

Japan nuclear power plant asks for 12 bln USD capital injection


08:11, March 30, 2012

TOKYO, March 29 (Xinhua) -- The operator of the troubled Fukushima No. 1 nuclear power plant on Thursday asked the Japanese government for a capital injection of 1 trillion yen (about 12.1 billion U.S. dollars) to avoid insolvency amid rising costs of fuel and decontamination.

The move is widely believed to be a start button for a process that will enable the government to control the Tokyo Electric Power Co., known as TEPCO.

TEPCO President Toshio Nishizawa told a press conference that his company's financial status has become extremely severe and such an injection is vital for it to stay afloat.

The capital injection is expected to take place possibly in July, making it the largest bailout outside the banking sector in Japan, Kyodo News reported.

The cash injection will be given to the company in exchange for stake. The TEPCO is scheduled to hold a shareholder's meeting in late June, when a resolution is expected to be passed regarding the size of the stake for the government, according to local media reports.

The operator, which is behind the world's worst nuclear accident since Chernobyl, also sought 845.9 billion yen in aid of funding its swelling compensation costs, raising the amount of public fund for compensation to around 2.5 trillion yen.

Restarting nuclear reactors in Japan is difficult because the nuclear accident at the Fukushima plant has generated concerns about the safety of nuclear power.


Leave your comment0 comments

  1. Name


Selections for you

  1. Drought dries up Heilong pond in Lijiang

  2. Stunning volcano pictures

  3. Spring scenery in Mianzhu, Sichuan

  4. China Fashion Week enters 5th day

Most Popular


  1. BRICS mulls joint bank
  2. How far away are we from nuclear terrorism?
  3. Benefits, not values, define BRICS unity
  4. China slams Japan's move over Diaoyu Islands
  5. More efforts needed for enhancing nuclear security
  6. Chinese solar companies to fight US tariffs
  7. South China Sea mapping underway
  8. Safer world, safer energy
  9. Keep talking, Hu urges
  10. US' human rights violations

What's happening in China

Forest fire breaks out in Jinning County of Yunnan Province

  1. China's largest gold producer's profits rise
  2. Guangzhou begins weekly news briefings
  3. China's e-government development ranks 78th
  4. 'Panda tea' makes a splash in SW China
  5. China uses helicopter to prospect for the first time

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai