Japan reconsidering Turkey nuclear project

Japan reconsidering Turkey nuclear project

The Japanese government and a consortium of private firms are reconsidering involvement in a nuclear power plant project in Turkey. They say the cost of the planned venture has skyrocketed.

The government has been supporting the consortium consisting of Mitsubishi Heavy Industries and other private Japanese firms.

The export of infrastructure is a pillar of the Abe administration's growth strategy.

After conducting research into the project, the consortium decided that the cost of building a nuclear power plant on the Black Sea coast would be over 35 billion dollars, more than double the initial estimate.

The increase is due to higher safety requirements implemented after the 2011 disaster at Japan's Fukushima Daiichi nuclear plant.

The Japanese side had asked Turkey to increase the purchasing price of power generated at the nuclear plant.

But Japanese Prime Minister Shinzo Abe and Turkish President Recep Tayyip Erdogan were unable to reach consensus in talks in Argentina earlier this month.

Japan's trade and industry minister Hiroshige Seko is expected to discuss the matter with Turkish government officials as early as January.