Japan Government to Buy Stake in TEPCO

South-Yokohama Powerplant (Yokohama,Japan)

Image via Wikipedia

According to Reuters, via the HuffPost on April 1, the Japanese government will buy a partial state in TEPCO, in an effort to gain more control over response and recovery activities. See : Japan Government To Reportedly Buy Partial Stake In Tokyo Electric Power, Owner Of Nuclear Plant

Japan’s government plans to take control of Tokyo Electric Power Co., the operator of a stricken nuclear power plant, by injecting public funds, the Mainichi newspaper said on Friday. But the government is unlikely to take more than a 50 percent stake in the company, an unnamed government official was quoted by the daily as saying. “If the stake goes over 50 percent, it will be nationalized. But that’s not what we are considering,” the official was quoted by the paper as saying.

The company, also known as TEPCO, has come under fire for its handling of the emergency at its Fukushima Daichi nuclear complex, triggered by a March 11 earthquake and tsunami that left more than 27,500 people dead or missing. Mainichi quoted an unnamed government official as saying: “It will be a type of injection that will allow the government to have a certain level of (management) involvement.”

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