Tokyo Electric said Thursday it will seek an industry peer to become its partner in the nuclear power business and draw up a basic framework for the tie-up around fiscal 2020. The tie-up will cover the Higashidori nuclear power station in Aomori Prefecture, Tokyo Electric Power Company Holdings Inc. said in a new turnaround program. The plan comes as Tepco, as the utility is known, works to raise a massive funds to cover the March 2011 triple core meltdown at the Fukushima No. 1 nuclear plant. The costs include expenses for decommissioning the reactor and compensating those affected by the disaster. The company aims to set up joint ventures for nuclear power and power grid operations to streamline its business and bolster earnings.
May-11-2017, 13:55:04 GMT