Japan's TEPCO to sell assets to raise compensation funds
MOSCOW. May 11. KAZINFORM 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. Kazinform refers to RIA Novosti.
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. Kazinform cites RIA Novosti. See www.en.rian.ru for full version