As reported by Agence France-Presse, the Tokyo Electric Power Company (TEPCO) has admitted that post-Fukushima Daiichi nuclear catastrophe clean-up and decontamination costs will likely double from previous estimates to $125 billion, a whopping 2% of Japan's gross domestic product (GDP). This is reminiscent of post-Chernobyl impacts on countries such as Belarus, where up to 5% of its GDP went toward Chernobyl mitigation -- year after year.
The article reports:
TEPCO chairman Kazuhiko Shimokobe told reporters his company could become a shell, existing only to sort out the mess left by the tsunami-sparked disaster and dependent on the government for money.
"If we address the swelling costs by doubling the amount of government bond issuance (to 10 trillion), our firm will become an entity only for the purpose of dealing with post-accident issues," a company statement said.
The clean-up and decontamination efforts are expected to take decades.