Today's Coming Crisis Movie

Friday, November 4, 2011

Japan gives $11.6 Billion to dismantle nuclear reactors - 4th Nov 2011

Reader Contribution;

Japan's government Friday approved spending $11.6 billion Cdn of public money to help the operator of the tsunami-hit nuclear power plant decontaminate the site and dismantle the reactors.

Japan's nuclear minister, Goshi Hosono, says the aid is meant as a preliminary installment to help cash-strapped Tokyo Electric Power Co. cover the massive cost of the work.

The 900 billion yen comes from the fund made up of all Japanese nuclear plant operators and the government.

The approval came after TEPCO and a state-backed fund submitted a business restructuring plan for TEPCO to cut more than 2.5 trillion yen ($32 billion) in costs over the next 10 years and reduce more than 7,000 employees.

Hosono said a more comprehensive final report is planned in March. Read More