Japan to allocate 47 bln yen to cope with toxic water leak in Fukushima plant

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The Japanese government on Tuesday said it plans to spend 47 billion yen (473.1 million U.S. dollars) to cope with highly toxic water leaks in the crippled Fukushima Daiichi nuclear power plant, according to local media.

Prime Minister Shinzo Abe said in a meeting to discuss the nuclear disaster that the government will take necessary financial steps to address the leakage issue, which it believes now can not be handled by the Tokyo Electric Power Co. (TEPCO), the plant's runner, alone, said Japan's Kyodo News.

The decision was probably made due to the concern that the issue may overshadow Tokyo's final bid for the 2020 summer Olympics, whose result will be revealed at an International Olympic Committee's meeting on Saturday in Argentine capital of Buenos Aires, in which Abe will participate, said Kyodo.

The spending is likely to cover the cost of creating a large- scale underground water-shielding frozen soil wall around the No. 1 and 4 reactor buildings to prevent further increase in the contaminated water, said the report.

The funds will be also used to boost the capability of facilities that can lower the radiation level of the toxic water stored at the plant.

TEPCO admitted recently about 300 tons of highly toxic water leaked from containers in the crippled complex and probably flowed into the Pacific Ocean and Japan's nuclear regulator has ranked the incident as "serious" last week. Endi

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