Superskunk Posted March 22, 2011 Share Posted March 22, 2011 (edited) Yes indeed, a very interesting report. Thanks for posting, Superskunk! ... You should take a look at page 18 in the report. They localised the position of the radiation source with a flourescent screen attached on a bamboo pole... <deleted>... no Geiger counter in this country? Edited March 22, 2011 by Superskunk Link to comment Share on other sites More sharing options...
elcent Posted March 22, 2011 Share Posted March 22, 2011 Kudos to brahmburgers! I, too, have an outdoor shower here in BKK, under the banana trees. We haven't had hot water in our house since we bought it 20 years ago. Water is always ambient temp, plenty warm enough. In the countryside where it gets much colder, solar showers would rule! Yes, that's great. A leading project developer from the construction industry told me a trick that he admitted he doesn't understand why it works but it works and it is so simple. All one needs is the regular water conection a copperhose that is winding back and forth and the cooper pipe up to a storage(preferably isolated)- tank on the roof, that's all. The copper need to have just light and not sunshine. They can be laid somewhere on an open unused piece of land or even on the roof itself. The water heats up to 60 - 70 degrees C. Due to the heat the water is pressed upwards to the tank, no pumps needed. There's lots of similar techniques to find online. Link to comment Share on other sites More sharing options...
jfchandler Posted March 22, 2011 Share Posted March 22, 2011 (edited) The long bamboo pole part added a nice local Thai touch... So did the fact that local authorities at the time took no action to alert or evacuate nearby residents, even with the substantial time between when they first located the probable site of the radioactivity, and much later when they finally managed to find and pick up the radioactive material there. So did the fact that the nuclear device, first surplused by a local hospital, was moved to an unsecured storage yard by the local company responsible for it, without that company notifying the Thai nuclear agency as required, or having notified the government of some other material they also had possessed. Or for that matter, doing much of anything to ensure it was kept safe and secure. That's how the junk yard scavenger guys came across it. And then, also interesting in the report, was the account that the government guys (it wasn't really clear who...police, fire, etc) who performed the device retrieval kept insisting they wouldn't do the work without wearing lead X-ray type aprons, thinking it would protect them from the radiation, whereas the report says the type of radiation involved would penetrate those kinds of aprons. It was a surprise to me that some kinds of radiation will penetrate those things!!! I think they used the bamboo pole because they didn't want to get any closer to the nuclear material than they absolutely had to... I don't remember whether the report mentioned the idea of any Geiger counters involved. But even if they had some, I'm not sure how they'd read or operate them at the end of long bamboo pole. Yes indeed, a very interesting report. Thanks for posting, Superskunk! ... You should take a look at page 18 in the report. They localised the position of the radiation source with a flourescent screen attached on a bamboo pole... <deleted>... no Geiger counter in this country? Edited March 22, 2011 by jfchandler Link to comment Share on other sites More sharing options...
jfchandler Posted March 22, 2011 Share Posted March 22, 2011 I believe NHK is reporting yet another major quake there this afternoon. 6.3 magnitude at about 6:17 pm Japan time... off the coast of Fukushima. Link to comment Share on other sites More sharing options...
jfchandler Posted March 22, 2011 Share Posted March 22, 2011 It's pretty funny to hear reports of the Chinese authorities beginning radiation inspections of food products from Japan, and consumers there snapping up supplies of Japanese milk powder products fearing a shortfall -- especially considering China's own horrible record of product and food safety for their own exports, not limited to the scandal over melamine contaminated milk products in recent years... Link to comment Share on other sites More sharing options...
jfchandler Posted March 22, 2011 Share Posted March 22, 2011 (edited) TEPCO has now begun posting on its English language web site daily Adobe PDF files of the radiation readings from its Daiichi and Daini nuclear power plants, though apparently none of the data shows the readings right at the most damaged Daiichi reactors. The Daiichi data being posted is from the plant's main gate, not from the reactors themselves. The TEPCO web page hosting the reports, which show Daiichi radiation levels every 10 minutes, are located here: http://www.tepco.co....ng/index-e.html In quickly looking over the plant main gate readings for the past 24 hours, they appear to generally all be in the 250 - 300 microsievert per hour range. Maybe one of the scientists among us can explain this... The large value 250-300 uSv amounts are listed as a symbol that looks like a "y ray", whereas there are very small values listed separately as "neutron ray" with values of less than 0.01 microsievert per hour. The posted reports on the web site at present date back to March 11. TEPCO's web site now also appears to have a much expanded section of English news releases, including one with the detail on the seawater radiation testing and their periodic plant status reports... http://www.tepco.co....se/index-e.html And, they're also now posting some past reports and presentations on their nuclear power plans, including an undated, 21 page document titled (Lessons Learned from the TEPCO Nuclear Power Scandal -- PowerPoint --) . Available here: http://www.tepco.co....n/presen-e.html Edited March 22, 2011 by jfchandler Link to comment Share on other sites More sharing options...
bkkjames Posted March 22, 2011 Share Posted March 22, 2011 Sadly ironic that is John, wasn't long ago I would avoid chinese produce imports here-now I may have to love them. Guess shares in australian food companies or those that compete with japanese one's will be on the up. Link to comment Share on other sites More sharing options...
bkkjames Posted March 22, 2011 Share Posted March 22, 2011 Is it just the conspiracist in me or do you think the US Navy pull-out has more to do with readings from a myriad of spy satellites and other nice toys and less so with fleet positioning as the press release says? Link to comment Share on other sites More sharing options...
jfchandler Posted March 22, 2011 Share Posted March 22, 2011 Regarding the quantity of radioactive material present in the Daiichi reactors, TEPCO has a good overview in one of its profile documents... Note highlighted in yellow sections: Link to comment Share on other sites More sharing options...
Jdietz Posted March 22, 2011 Share Posted March 22, 2011 Maybe one of the scientists among us can explain this... The large value 250-300 uSv amounts are listed as a symbol that looks like a "y ray", whereas there are very small values listed separately as "neutron ray" with values of less than 0.01 microsievert per hour. the y is actually a Greek Gamma. Source: http://www.gtcceis.anl.gov/guide/rad/index.cfm Alpha Particles Structure of the atom An alpha particle consists of two protons and two neutrons and is identical to the nucleus of a helium atom. Because of its relatively large mass and charge, an alpha particle produces ions in a very localized area. An alpha particle loses some of its energy each time it produces an ion (its positive charge pulls electrons away from atoms in its path), finally acquiring two electrons from an atom(s) at the end of its path to become a helium atom. An alpha particle has a short range (several centimeters) in air and cannot penetrate a sheet of paper or the outer layer of skin. Alpha particles are a hazard only if they are taken into the body. A number of the radionuclides in sealed sources and other wastes decay by emitting an alpha particle (e.g., Plutonium-238, Plutonium-239, Americium-241, Curium-244). Beta Particles A beta particle can be either negative (negatron) or positive (positron). Negatrons are identical to electrons and originate in the nucleus of an atom that undergoes radioactive decay by changing a neutron into a proton. The only difference between a negatron and electron is its ancestry. A beta particle originates in the nucleus whereas an electron is external to the nucleus. Unless otherwise specified, the term "beta particle" generally refers to a negatron, which is the context in which it is used for GTCC LLRW. Beta particles are much smaller and more penetrating than alpha particles, but their range in tissue is still limited. Although lower energy beta particles are generally a hazard only if taken into the body, high energy beta particles represent an external radiation hazard and can produce significant skin doses. Beta particles can pass through a sheet a paper or thin clothing, but are stopped by a thin layer of aluminum foil, plastic, or glass. Many of the radionuclides in GTCC LLRW decay by emitting a beta particle (e.g. Iron-55, Nickel-63, Cesium-137). Neutrons A neutron is one of the two primary building blocks of the nucleus, the other being the proton. A neutron has no charge, and high energy neutrons are very penetrating and present an external hazard. Neutrons can be produced by the fissioning or splitting of atoms. Some transuranic atoms such as certain isotopes of plutonium and curium fission spontaneously, i.e., the fission process occurs without the need for additional neutrons to initiate the process. These transuranic radionuclides are present in some GTCC LLRW. Shielding for high energy neutrons generally consists of materials having high concentrations of hydrogen including water, concrete, sheets of paraffin, and plastic. Gamma Rays Ionizing radiation penetration distances A gamma ray is electromagnetic radiation(similar to visible light, but at a much higher energy in the electromagnetic spectrum) given off by the nucleus of an atom as a means of releasing excess energy, and is oftentimes released when an atom undergoes decay by emitting an alpha or a beta particle. Gamma rays are bundles (quanta) of energy that have no charge or mass and can travel long distances through air (up to several hundred meters), body tissue, and other materials. A gamma ray isextremely penetrating and represents an external hazard. A gamma ray can pass through a human body without hitting anything, or it may hit an atom and give that atom all or part of its energy. Because a gamma ray is pure energy, it no longer exists once it loses all of its energy. Some GTCC LLRW has very high concentrations of radionuclides that emit high energy gamma rays, such as cesium-137. These wastes must be remotely handled or adequately shielded to protect workers. Thick layers of concrete, lead, steel and other comparable shielding materials are necessary to stop the penetration of gamma rays. X-Rays An X-ray is the same as a gamma ray, but originates external to the atom by the movement of electrons between energy shells (from a higher to lower energy shell). The excess energy associated with thiselectron movement is released as an X-ray. X-rays have less energy than gamma rays, are less penetrating, and require less shielding. In all other aspects, X-rays behave in the same manner as gamma rays. Link to comment Share on other sites More sharing options...
Jdietz Posted March 22, 2011 Share Posted March 22, 2011 (edited) So to tie in with another post, a lead apron doesn't stop gamma rays, you'd need a nice thick wall of lead to make a real difference. Although it needs to be mentioned that most gamma rays pass right through a human body without hitting anything. Gamma rays can pass through a thin sheet of lead with very little effect. You need about 10 cm of lead to stop most gamma rays completely. Edit: Here is a nice link explaining types of radiation (alpha, beta, gamma) for the general public: http://www.furryelephant.com/content/radioactivity/alpha-beta-gamma-radiation/ Edited March 22, 2011 by Jdietz Link to comment Share on other sites More sharing options...
jfchandler Posted March 22, 2011 Share Posted March 22, 2011 Thanks JD... The part I took particular note of re TEPCO's main radiation "gamma" readings was: Thick layers of concrete, lead, steel and other comparable shielding materials are necessary to stop the penetration of gamma rays. I guess that explains why the Thai government guys in the Samut Prakan episode were out of luck with their lead Xray aprons, and unfortunately, why it seems whatever protective suits the JSDF and Tokyo Fire Department staff are wearing at the Daiichi plant isn't protecting them from substantial gamma radiation exposure. The suits, I guess, are more aimed at preventing them from inhaling radioactive particles or getting them on their body surfaces. Link to comment Share on other sites More sharing options...
Jdietz Posted March 22, 2011 Share Posted March 22, 2011 Indeed, the suits are meant to protect you from contamination, not irradiation. Link to comment Share on other sites More sharing options...
jfchandler Posted March 22, 2011 Share Posted March 22, 2011 I learn something new every day hanging around this neighborhood... Can't complain about that... Now I just have to find a tailor who can make a 10 cm thick solid lead suit for me to wear... Link to comment Share on other sites More sharing options...
EnSvenskTiger Posted March 22, 2011 Share Posted March 22, 2011 The temperature of the water used to cool spent nuclear fuel at unit 2 of the Fukushima power plant is near the boiling point http://english.ruvr.ru/2011/03/22/47796705.html Its not ever until the fat lady sings! Or is this old news? Tiger Link to comment Share on other sites More sharing options...
itishothere Posted March 22, 2011 Share Posted March 22, 2011 (edited) I learn something new every day hanging around this neighborhood... Me too. Or in my case, SEVERAL new things every day. For which I will again issue my thanks. I gave up long ago bothering to read the major news sites; for my updates I come here.:jap: Edited March 22, 2011 by itishothere Link to comment Share on other sites More sharing options...
JulianLS Posted March 22, 2011 Share Posted March 22, 2011 Yes indeed, a very interesting report. Thanks for posting, Superskunk! ... You should take a look at page 18 in the report. They localised the position of the radiation source with a flourescent screen attached on a bamboo pole... <deleted>... no Geiger counter in this country? Yes I saw that, I read the report from start to finish. The fluorescent screen and bamboo pole even got a mention in the "learnings" section as a innovative approach to find the source. But it seems the technique only works when the moon isn't shining brightly. Lol Link to comment Share on other sites More sharing options...
JulianLS Posted March 22, 2011 Share Posted March 22, 2011 Power restored to control room of No.3 reactor Tokyo Electric Power Company says it has restored the electricity supply for the control room of the Number 3 reactor at the quake-damaged Fukushima Daiichi nuclear plant. TEPCO said lights in the control room were switched on again on Tuesday night. Eleven days have passed since the massive earthquake devastated northeastern Japan and cut off external power to the Fukushima Daiichi nuclear plant. TEPCO reconnected power cables to the Number 3 and Number 4 reactors earlier on Tuesday. The lights are now working in the control room of the Number 3 reactor. This will make it easier to repair the reactor's cooling system. TEPCO will now try to reactivate vital monitoring systems in the control rooms, such as those for measuring temperatures inside the reactors and water levels in the spent fuel storage pools. TEPCO says it will transmit electricity to the cooling pump for the Number 3 reactor on Wednesday. The company says if the pump functions normally, it will begin cooling the reactor and the spent fuel storage pool. Wednesday, March 23, 2011 02:01 +0900 (JST) Source: NHK Link to comment Share on other sites More sharing options...
Lopburi99 Posted March 22, 2011 Share Posted March 22, 2011 I learn something new every day hanging around this neighborhood... Me too. Or in my case, SEVERAL new things every day. For which I will again issue my thanks. I gave up long ago bothering to read the major news sites; for my updates I come here.:jap: Me too itishothere. I don't believe anything unless these guys validate it. Time and time again I've heard media sensationalism which was identified as such here. I keep my Facebook friends updated and informed far better than anywhere on television. Link to comment Share on other sites More sharing options...
brahmburgers Posted March 23, 2011 Share Posted March 23, 2011 [*]Plutonium comes from Pluto: god of wealth and power and also the god of hell and death. Ok with the scientific stuff, but not sure we needed the hocus pocus stuff. As for the 7th Fleet. Being that they're a military force, you'd expect they'd want to keep their whereabouts secret. Also: haven't heard any mention of whether the coastal inlets, where the tsunami was most severe, are planning to rebuild as usual. I'd like to see them become part of the Japanese park system - cleared as much as possible of civilization's debris, and allowed to devolve to their natural state - for visitors and perhaps campers, beachcombers, etc. Or should we expect the townships to get built back up again, and perhaps add 3 or 4 meters of concrete to the seawall? Plus, what about planning adjustments to the many other towns and cities built along Japan's coasts, particularly at inlets which amplify the height of tidal surges. Similarly, what about Bangkok? Experts will tell us that giant tidal surges (or similar) don't affect that part of the Bight of Thailand, but those same experts would have told us, prior to the tsunami that hit the Andaman coast, that Thailand's coasts don't have a history of tsunamis. Bangkok is a flooding disaster waiting to happen. It's not too early or too late to start moving to higher ground. Suggest: rather than one gargantuan metropolis, as it is now, plan on divvying it into sections focusing on industry, religion/royalty, universities, bureaucracy, etc. Maybe even plan for some green space. Link to comment Share on other sites More sharing options...
jfchandler Posted March 23, 2011 Share Posted March 23, 2011 (edited) Wednesday Updates from NHK: Police say 9300+ people confirmed dead and nearly 14,000 missing. More aftershocks hit the stricken Fukushima region Wednesday morning, quakes recorded at 7:12, 7:34 and 7:36 a.m. TEPCO says newly working thermometers at Reactors 1 to 3 show No. 1 and 3 running hot. IAEA will send 3 additional radiation monitoring experts to join the 4 that are already in Japan. Japan's science ministry says radiation exceeding 400 times the normal level was detected in soil 40 kilometers from the Fukishima Daiichi plant. Japan's health ministry has detected radioactive iodine levels above the safety standard for infants in tap water at 5 locations in Fukushima Prefecture. A TEPCO VP has apologized to residents who were forced to evacuate their homes. Japanese officials are bringing in a variety of special pumping trucks to pour seawater on the stricken Fukushima reactors from extended distances: --A high-powered water cannon truck that has arrived from Australia can hit targets 150 meters away and operate unmanned for 2 to 3 days. --A special truck that normally pours concrete in building construction is now pour water on the Fukushima plant. --A Chinese firm has given to Japan a vehicle due to arrive Thursday that has a water cannon on a 62-meter-long arm that can be operated remotely. Tohoku shinkansen bullet train expected to resume full service as early as late April. Edited March 23, 2011 by jfchandler Link to comment Share on other sites More sharing options...
midas Posted March 23, 2011 Share Posted March 23, 2011 (edited) there ya go ! It was only a matter of time before someone grew a conscience, and disclosed to the world that in addition to the massive cover up currently going on with respect to the true extent of the Fukushima catastrophe, the actual plant itself, in borrowing from the BP playbook, was built in a hurried way, using cost and labor-cutting shortcuts, and the end result was a true "time bomb." Bloomberg has just released a report that if and when confirmed should lead to the prompt engagement of harakiri by the Hitachi executives responsible for this unprecedented act of treason against Japan's citizens. Quote Bloomberg: "One of the reactors in the crippled Fukushima nuclear plant may have been relying on flawed steel to hold the radiation in its core, according to an engineer who helped build its containment vessel four decades ago. Mitsuhiko Tanaka says he helped conceal a manufacturing defect in the $250 million steel vessel installed at the Fukushima Dai-Ichi No. 4 reactor while working for a unit of Hitachi Ltd. in 1974. The reactor, which Tanaka has called a “time bomb,” was shut for maintenance when the March 11 earthquake triggered a 7-meter (23-foot) tsunami that disabled cooling systems at the plant, leading to explosions and radiation leaks....“Who knows what would have happened if that reactor had been running?” Tanaka, who turned his back on the nuclear industry after the Chernobyl disaster, said in an interview last week. “I have no idea if it could withstand an earthquake like this. It’s got a faulty reactor inside.” Edited March 23, 2011 by midas Link to comment Share on other sites More sharing options...
jfchandler Posted March 23, 2011 Share Posted March 23, 2011 NHK reporting TEPCO has been seeking total of 1.5 trillion yen, and possibly as much as 2 trillion yen, from major Japanese banks to cope with Fukushima disaster and develop replacement energy sources. Link to comment Share on other sites More sharing options...
jfchandler Posted March 23, 2011 Share Posted March 23, 2011 (edited) Well, Reactor No. 4 was shut down at the time of the quake and tsunami, and there were no fuel rods inside generating energy at the time. There are a lot of fuel rods in the reactor's cooling pool, but that's a separate function from the reactor itself. The report below might have some significance if Reactors 1-4 were ever going to operate again. But given that most of the reactors have already been flushed/injected with salty seawater, the chances of them ever operating again are minimal. The Japanese govt. has already been talking publicly about their future demolition. Quote Bloomberg: "One of the reactors in the crippled Fukushima nuclear plant may have been relying on flawed steel to hold the radiation in its core, according to an engineer who helped build its containment vessel four decades ago. Mitsuhiko Tanaka says he helped conceal a manufacturing defect in the $250 million steel vessel installed at the Fukushima Dai-Ichi No. 4 reactor while working for a unit of Hitachi Ltd. in 1974.." Edited March 23, 2011 by jfchandler Link to comment Share on other sites More sharing options...
pedro01 Posted March 23, 2011 Share Posted March 23, 2011 Well, Reactor No. 4 was shut down at the time of the quake and tsunami, and there were no fuel rods inside generating energy at the time. There are a lot of fuel rods in the reactor's cooling pool, but that's a separate function from the reactor itself. The report below might have some significance if Reactors 1-4 were ever going to operate again. But given that most of the reactors have already been flushed/injected with salty seawater, the chances of them ever operating again are minimal. The Japanese govt. has already been talking publicly about their future demolition. Quote Bloomberg: "One of the reactors in the crippled Fukushima nuclear plant may have been relying on flawed steel to hold the radiation in its core, according to an engineer who helped build its containment vessel four decades ago. Mitsuhiko Tanaka says he helped conceal a manufacturing defect in the $250 million steel vessel installed at the Fukushima Dai-Ichi No. 4 reactor while working for a unit of Hitachi Ltd. in 1974.." Of course this report is significant, if TEPCO have been negligent on safety in one place, it is safe to presume they may have been negligent in others. In fact, that negligence might be ongoing even as we speak. What if they know of other weaknesses on the plant that they are keeping quiet about? This could bite at any time... Link to comment Share on other sites More sharing options...
brahmburgers Posted March 23, 2011 Share Posted March 23, 2011 Well, Reactor No. 4 was shut down at the time of the quake and tsunami, and there were no fuel rods inside generating energy at the time. There are a lot of fuel rods in the reactor's cooling pool, but that's a separate function from the reactor itself. The report below might have some significance if Reactors 1-4 were ever going to operate again. But given that most of the reactors have already been flushed/injected with salty seawater, the chances of them ever operating again are minimal. The Japanese govt. has already been talking publicly about their future demolition. Quote Bloomberg: "One of the reactors in the crippled Fukushima nuclear plant may have been relying on flawed steel to hold the radiation in its core, according to an engineer who helped build its containment vessel four decades ago. Mitsuhiko Tanaka says he helped conceal a manufacturing defect in the $250 million steel vessel installed at the Fukushima Dai-Ichi No. 4 reactor while working for a unit of Hitachi Ltd. in 1974.." Of course this report is significant, if TEPCO have been negligent on safety in one place, it is safe to presume they may have been negligent in others. In fact, that negligence might be ongoing even as we speak. What if they know of other weaknesses on the plant that they are keeping quiet about? This could bite at any time... It's known that Japanese construction and safety standards are head and shoulders above Thailand's. And EGAT are still going to be doing a full court press for the 5 nuclear reactors they want for Thailand. Link to comment Share on other sites More sharing options...
jfchandler Posted March 23, 2011 Share Posted March 23, 2011 (edited) I wasn't saying the report wasn't significant. I was saying it's probably largely moot, at least as it relates to the construction quality of Reactor No. 4, since the No. 1 to 4 Daiichi reactors probably will never operate again. As for the general track record of the company, you don't have to go back 30 or 40 years to find documented examples of shoddy work. A scandal over the company falsifying safety inspection records led to the resignation of the company's president and others just a few years back. And in that instance, in the end, the company ultimately admitted what it has been doing... it wasn't just accused. (Lessons Learned from the TEPCO Nuclear Power Scandal -- PowerPoint --) (PDF/103KB) Of course this report is significant, if TEPCO have been negligent on safety in one place, it is safe to presume they may have been negligent in others. In fact, that negligence might be ongoing even as we speak. What if they know of other weaknesses on the plant that they are keeping quiet about? This could bite at any time... Edited March 23, 2011 by jfchandler Link to comment Share on other sites More sharing options...
jfchandler Posted March 23, 2011 Share Posted March 23, 2011 (edited) NHK - Tokyo officials advise against infants drinking tap water in certain central and western metropolitan areas due to radiation levels above government standards. Officials say no imminent health danger, but taking action as precaution. Officials say they suspect the contamination is the result of rainfall washing radioactive elements into the area's rivers that help supply water.The government's standard for infants is no more than 100 becquerels per litre of water, and readings from one water treatment plant sampled showed levels of 210 becquerels, more than double the standard. The contaminant measured was radioactive iodine. The government's limit for adults is 300 becquerels per litre. Edited March 23, 2011 by jfchandler Link to comment Share on other sites More sharing options...
jfchandler Posted March 23, 2011 Share Posted March 23, 2011 (edited) Restoration work at Fukushima nuke plant faces challenges TOKYO, March 23, Kyodo News Work to restore power and vital cooling functions at the troubled reactors of the Fukushima Daiichi nuclear plant stricken by the March 11 powerful quake and tsunami has encountered difficulties, such as a rise in a reactor's temperature and detection of high-level radiation, the government's nuclear agency said Wednesday. All six reactors at the crisis-hit plant were reconnected to external power as of Tuesday night. Despite the positive move, the temperature in the No. 1 reactor vessel briefly topped 400 C degrees, requiring large amounts of seawater injected into the reactor to cool it down, according to the agency. Hidehiko Nishiyama, spokesman for the Nuclear and Industrial Safety Agency, said high-level radiation amounting to 500 MILLIsievert (mSv) per hour was detected at the No. 2 reactor's turbine building a couple of days ago, which is preventing workers from trying to restore electricity at a control room. The plant operator Tokyo Electric Power Co. also said two workers who had been installing a makeshift power source from Tuesday night were injured and taken to hospital, but they were not exposed to radiation. MORE: http://english.kyodo...1/03/80389.html Edited March 23, 2011 by jfchandler Link to comment Share on other sites More sharing options...
jfchandler Posted March 23, 2011 Share Posted March 23, 2011 (edited) More on TEPCO's borrowing efforts: Japanese banks eye lending up to 2 tril. yen to Tokyo Electric TOKYO, March 23, Kyodo Japan's major banks are considering extending loans up to 2 trillion yen to Tokyo Electric Power Co. as early as by the end of March, sources close to the matter said Wednesday. The move is aimed at helping the utility raise funds for measures to boost electricity supply following a quake-triggered accident at its nuclear power plant in Fukushima Prefecture. Among banks, Sumitomo Mitsui Banking Corp. is expected to provide loans of about 600 billion yen, Mizuho Corporate Bank some 500 billion yen and Bank of Tokyo-Mitsubishi UFJ about 300 billion yen, the sources said. In addition, Mitsubishi UFJ Trust and Banking Corp., Sumitomo Trust & Banking Co., Chuo Mitsui Trust and Banking Co. and Shinkin Central Bank are also considering extending loans as Tokyo Electric is likely to have requested loans from each of them last week, the sources said. The utility firm had procured funds mostly through issuing corporate bonds, but it has apparently decided to ask banks for loans as conditions to issue corporate bonds have become severe following the nuclear power plant accident. Rating agencies Moody's Japan K.K. and Standard & Poor's downgraded their long-term credit ratings for Tokyo Electric with the utility's financial heath expected to worsen due to the nuclear power plant accident following the devastating March 11 earthquake. The utility plans to repair its thermal power plant to make up for an electricity shortage, likely costing the company a large amount of money to purchase heavy oil and other materials used to generate electricity. Meanwhile, the government has started considering whether it is possible for the Development Bank of Japan to extend loans to Tokyo Electric with a scheme which involves providing loans in the event of wide-scale disasters using funds procured by the government, sources close to the matter said. The government has set aside about 3.3 trillion yen in fiscal 2010 for the scheme, while it is considering increasing the amount for fiscal 2011 starting April. http://english.kyodo...1/03/80369.html Edited March 23, 2011 by jfchandler Link to comment Share on other sites More sharing options...
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