Monday, March 28, 2011

Fukushima Nuclear Battle Prolonged as TEPCO to be Nationalized: Japan’s Yomiuri Reports

TOKYO – According to Japan’s Yomiuri newspaper on Tuesday citing anonymous government sources; Japan government is seriously thinking of temporary nationalizing TEPCO (Tokyo Electric Power Company), the operator of Fukushima nuclear plant, to help manage it and help it pay compensation for damage caused by the nuclear power plant.

Plutonium detected in soil at the stricken Fukushima nuclear complex raised alarm on Tuesday over Japan's prolonged battle to contain the world's worst atomic crisis in 25 years. 

TEPCO is struggling to control its nuclear power plant in Fukushima after it was damaged by a massive earthquake and tsunami on March 11, due to which ultimate evacuation have to be made around the plant including farmers in the surrounding areas.

TEPCO shares have already lost 70% in the stock market since twin-disaster hit Japan and on Tuesday its share were un-traded due to a surplus of sell orders at 626 yen, down 10 percent from Monday's close.

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