Japan Approves Billions in Aid to Tepco

Posted November 4th, 2011 at 2:30 am (UTC-5)
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Japan's government agreed Friday to a deal giving $11.5 billion in public funds to the Tokyo Electric Power Company to cover costs in the aftermath of the March 11 earthquake and tsunami that crippled its Fukushima nuclear power plant.

The government said the funds would help TEPCO with cleanup and dismantling of the plant and compensation payments to residents of the area.

The money comes from a fund made up of all Japanese nuclear plant operators and the government.

Engineers at Fukushima are still trying to bring the reactors to a stable cold shutdown by the end of this year.