Japan to spend even more on Fukushima, this time to stop radioactive water leaks

Japan’s prime minister said the government will spend $473 million to help stop leaks of radioactive water at the Fukushima Daiichi nuclear power plant. This is in addition to the $12.8 billion the government has already spent on the crippled nuclear power plant.

Prime Minister Shinzo Abe said he would set up a ministerial-level commission to develop a solution to the leaking issue, according to Bloomberg. The funds will go toward an underground ice wall to block groundwater from leaking into basements at the plant and an improved water treatment plant.

Officials with power plant owner and operator Tokyo Electric Power Co. (TEPCO) estimated that more than 300 tons of contaminated water a day had been leaking from storage tanks into the ocean, and nuclear regulators in the country have called the leak an “emergency.”

The government placed TEPCO under temporary state control and gave the company a $12.8 billion bailout in July 2012, according to Power Engineering.

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