Media reports say the Japanese government is taking control of the operator of Japan’s crippled Fukushima nuclear plant. Kyodo news agency said Wednesday that Japan will inject more than $12 billion in public funds into the Tokyo Electric Power Co., effectively nationalizing one of the world’s largest private utilities. The report said the financially troubled […]
Struggling Japanese Utility to Seek Emergency Loan from Government
Posted March 29th, 2012 at 6:50 am (UTC-5)
The operator of Japan’s crippled Fukushima nuclear plant will ask for $12 billion to keep it afloat, effectively putting the government in control of the private utility. In addition to the bailout money, Tokyo Electric Power, or TEPCO, will also ask a government-backed fund for another $9 billion that will be used to compensate the […]
