World News

Japan to abandon Turkey nuclear project - Nikkei

(Reuters) - Japan is set to scrap a Turkish nuclear power project that had been projected as a model for Tokyo's export of infrastructure, the Nikkei reported here.

The cost of the project, a public-private consortium led by Japan, nearly doubled its original estimate to around 5 trillion yen (34.54 billion pounds), making it difficult for lead builder Mitsubishi Heavy Industries Ltd and its partners to continue, according to the report.

The increase in cost was mainly due to higher safety requirements following the 2011 meltdown at Japan’s Fukushima Daiichi nuclear power plant and a weaker Turkish Lira, Nikkei said.

Reporting by Nivedita Balu in Bengaluru; Editing by Shailesh Kuber