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Japan TEPCO to sell assets to raise compensation funds RIA Novosti, PUBLISHED May 12, 2011 The operator of Japan's crippled Fukushima Daiichi nuclear plant will sell assets worth more than $6 billion to raise funds to compensate victims of the country's worst nuclear crisis, Kyodo news agency has said. Emergency workers are still struggling to lower radiation levels at the plant, which was heavily damaged by an earthquake and tsunami on March 11. Operator Tokyo Electric Power Co. (TEPCO), Japan's largest power utility, says it will also need state help to meet compensation claims from families and businesses displaced by the disaster. Access to a 20 kilometer exclusion zone around the plant is still banned. Analysts say total compensation claims may be over $100 billion. The JP Morgan financial services firm has estimated that TEPCO faces losses of $24.7 billion in the current financial year. The official death toll from the March 11 twin disaster is just under 15,000, while 9,893 people remain unaccounted for. Other news: Russia ready to finance Egypt first nuclear plant Russia confirmed its participation in a tender to build Egypt's first nuclear power plant and said it was willing to help finance the project. ARMZ acquires Australian uranium producer in $1.2 bln deal ARMZ will pay eight Australian dollars per share, which represents a 15.5 percent premium on the average market price for 20 trading days. Russia to start building Turkish NPP in 2013 Russia will start building Turkey's first NPP estimated at $20 billion in 2013, Russian ambassador to Ankara Vladimir Ivanovsky said. |
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