Arab Today, arab today japan\s tepco receives1 trn yen in public funds
Last Updated : GMT 10:58:15
Arab Today, arab today
Arab Today, arab today

Japan\'s TEPCO receives1 trn Yen in public funds

Arab Today, arab today

Arab Today, arab today Japan\'s TEPCO receives1 trn Yen in public funds

Tokyo - QNA

Tokyo Electric Power Co. has received 1 trillion yen in public funds, falling under effective state control as it struggles to overcome its financial plight stemming from last year's Fukushima Daiichi nuclear power plant disaster, sources close to the move said Tuesday. The capital injection by a state-backed bailout fund is expected to help Japan's largest utility put its business back on track without going bankrupt, while giving the government over 50% of the company's voting rights and the ability to intervene in management, (Kyodo) news agency reported. But the restructuring process remains thorny, with no clear prospects for the total amount of costs TEPCO faces in compensating those affected by the triple meltdown disaster, cleaning up the vast extent of radiation-contaminated land and scrapping the crippled reactors at the Fukushima plant.

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