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Japan says it will approve Fukushima operator's revival plan

Published on Jan 15, 2014 1:16 PM

TOKYO (REUTERS) - Japan's trade ministry said it would approve on Wednesday a revival plan for the utility responsible for the Fukushima nuclear disaster, Tokyo Electric Power Co, its second attempt at restoring battered finances.

The plan hinges on Tokyo Electric (Tepco) restarting its Kashiwazaki Kariwa nuclear plant to cut fossil fuel costs, a contentious issue staunchly opposed by the local governor.

An earlier plan by Tepco outlining a revival after its Fukushima plant was hit by a massive earthquake and tsunami in 2011, triggering triple meltdowns at the site, had to be torn up because it could not restart Kashiwazaki.

Japan's trade minister Toshimitsu Motegi is scheduled to meet Tepco president later on Wednesday to officially approve the plan.

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