TEPCO president says company will reconsider foreign investment

Nikkei.com reported yesterday:

Tokyo Electric Power Co.’s president said Monday it is inevitable that the company will have to reconsider its overseas business strategy, as it struggles to bring Japan’s worst-ever nuclear accident under control.

“We would like to concentrate our management resources on domestic activities,” Masataka Shimizu said during testimony to an Upper House committee of the Diet, Japan’s parliament.

The article continues:

In May last year, Tepco reached an accord with NRG Energy Inc. (NRG) of Texas to buy a stake in one of the first U.S. nuclear power projects in decades, marking Tepco’s first stake in an overseas nuclear plant project.

But the chief executive of NRG Energy said earlier this month that Tepco’s efforts to contend with a nuclear crisis at the Fukushima Daiichi plant and rebuild after last month’s earthquake and tsunami casts doubt over the ownership of the planned joint venture.

Link: http://e.nikkei.com/e/fr/tnks/Nni20110418D18JF390.htm

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About Robert Singleton

By day, I work for a call center. In my spare time, I try to save my hometown (and planet) from a nearly constant onslaught of greedheads, lunatics and land developers. I live in a fictional town called Austin, Texas, where I go to way too many meetings.
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