Fukushima disaster: Costs to double to $190bn

Tokyo - The estimated cost of dealing with the 2011 Fukushima nuclear crisis has doubled to nearly $190bn, the government said on Friday, underlining the challenge Japan faces in overcoming the world's worst nuclear disaster since Chernobyl.


Tokyo said it expects the total costs - including compensation, decommissioning and decontamination - to reach 21.5trn yen ($188bn).

The figure is nearly double the previous estimate of 11trn yen made three years ago.

Tokyo's confirmation of the surging costs linked to the accident comes after public broadcaster NHK reported similar figures last week.

The estimates were hammered out by an expert panel that is working out how costs should be divided between the government, Fukushima operator Tokyo Electric Power (TEPCO) and others.

A massive undersea quake on March 11, 2011, sent a giant tsunami barrelling into Japan's northeastern coast, leaving more than 18 500 people dead or missing, and sending three reactors into meltdown at the Fukushima nuclear plant.

It was Japan's worst postwar disaster and the most serious nuclear accident since Chernobyl in 1986.

TEPCO faces a massive task of clearing highly radioactive spent fuel rods from its badly damaged reactors, and the entire decommissioning process is expected to take up to four decades.

It also has to pay compensation to residents, while the government will incur part of the costs for decontamination and building storage for contaminated debris.

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
18.15
-0.8%
Rand - Pound
20.13
-0.2%
Rand - Euro
17.68
-0.3%
Rand - Aus dollar
11.55
-0.0%
Rand - Yen
0.12
-0.6%
Gold
1,694.80
-1.1%
Silver
20.13
-2.6%
Palladium
2,192.88
-3.1%
Platinum
916.50
-1.0%
Brent Crude
94.42
+1.1%
Top 40
59,280
-0.2%
All Share
65,676
-0.2%
Resource 10
63,294
+0.0%
Industrial 25
79,505
-0.7%
Financial 15
14,072
+0.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders