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Economy

Japan to scrap Turkey nuclear project

Post-Fukushima safety measures doubled costs for Mitsubishi and partners

Japan's Prime Minister Shinzo Abe, left, and Turkey's then-Prime Minister Tayyip Erdogan shake hands after agreeing to deepen cooperation in nuclear power generation in Istanbul in October 2013.   © Reuters

TOKYO -- A Japan-led public-private consortium is set to abandon a Turkish nuclear power project that had been touted as a model for Tokyo's export of infrastructure, Nikkei has learned.

The delayed project's construction costs have ballooned to around 5 trillion yen ($44 billion), nearly double the original estimate, making it difficult for lead builder Mitsubishi Heavy Industries and its partners to continue with the plans.

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