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4-Traders Homepage  >  Equities  >  Tokyo  >  Tokyo Electric Power Company Holding Inc    9501   JP3585800000

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Tokyo Electric Power : Fukushima's ice wall nearing completion

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08/23/2017 | 05:58am CEST

FUKUSHIMA'S operator yesterday started freezing the last section of a US$320 million ice wall designed to combat widespread water contamination at the site of the worst nuclear accident in a generation.

Tokyo Electric Power Co (TEPCO) began pumping coolant into the remaining 7 meters of its 1.5-kilometer underground wall which encircles the four reactors along Japan's northeast coast.

Underground pipes circulate the coolant and freeze soil around the buildings.

The 30-meter-deep wall is designed to block underground water from nearby mountains from flowing into the complex and seeping into the Pacific.

It is expected to take more than two months until the wall is completely frozen.

The utility has been building the barrier since March 2016 with the government picking up its 34.5 billion yen price tag.

Even now, with the ice wall almost complete, about 140 tons of underground water flows into the plant daily, forcing the company to pump it out and store it in on-site tanks.

"When the ice wall is completed, we estimate that the amount of underground water flowing into the complex will be less than 100 tons," a company spokesman said.

But some experts have cast doubt on the ice wall, and the country's Nuclear Regulation Authority said it has not yet done an independent analysis.

"We doubt the ice wall is going to be as effective as TEPCO claims it will be," said an NRA official who requested anonymity.

"We're going to monitor its progress after it is finished to check the impact."

In June, NRA acting chief Toyoshi Fuketa publicly accused TEPCO of lying about the wall's effectiveness.

The same month, three former company executives went on trial, facing the only criminal charges laid in the accident.

On March 11, 2011, a 9.0-magnitude undersea earthquake off Japan's northeast coast sparked a massive tsunami that destroyed entire towns and villages along the Pacific shore, leaving nearly 18,500 people dead or missing.

The huge flow of water overwhelmed cooling systems at the Fukushima Dai-ichi plant, about 220km northeast of Tokyo, causing meltdowns in three reactors in the worst nuclear disaster since Chernobyl in 1986.

Workers had to keep pouring water onto the reactors to prevent the temperature of the nuclear fuel from rising uncontrollably.

Storing and treating that radioactive water continues to be a daily struggle with the cleanup expected to take decades.

(c) 2017 Shanghai Daily Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( JPY)
Sales 2019 6 076 B
EBIT 2019 -
Net income 2019 244 B
Debt 2019 5 172 B
Yield 2019 -
P/E ratio 2019 3,21
P/E ratio 2020 2,69
EV / Sales 2019 0,99x
EV / Sales 2020 0,86x
Capitalization 821 B
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Tokyo Electric Power Compa Technical Analysis Chart | 9501 | JP3585800000 | 4-Traders
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Mean consensus HOLD
Number of Analysts 4
Average target price 423  JPY
Spread / Average Target -17%
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Managers
NameTitle
Tomoaki Kobayakawa Executive President & Director
Takashi Kawamura Chairman
Naomi Hirose Executive Vice Chairman
Hideko Kunii Independent Director
Keita Nishiyama Director & Head-Corporate Planning
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