Sources: Japan to announce TEPCO support scheme next week

April 21, 2011 10:58

TOKYO - The Japanese government is expected to announce as early as next week a financial support scheme for Tokyo Electric Power Co (Tepco), the operator of the crippled Fukushima nuclear power plant, sources said.

The government is considering setting up a fund that would buy preferred shares from Tepco. The fund would provide loans to Tepco for it to pay compensation to those affected by the crisis at the nuclear plant in northern Japan, which was damaged by the March 11 tsunami, the sources said.

Under the plans, the government will allow Tepco to remain a private company listed on stock exchanges, they said.

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