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Japan to sign Turkey nuclear deal Japan signs Turkey nuclear deal
(about 9 hours later)
The Turkish government is expected to sign a deal later with a Japanese-French consortium to build a new nuclear power station. The Turkish government has signed a deal with a Japanese-French consortium to build a new nuclear power station.
The contract is estimated to be worth $22bn (£14bn). The $22bn (£14bn) contract is Japan's first successful bid for an overseas nuclear project since a tsunami wrecked the Fukushima power station.
It is expected to be signed by Japanese Prime Minister Shinzo Abe during a visit to Turkey. The deal was signed by visiting Japanese Prime Minister Shinzo Abe.
Turkish Prime Minister Recep Tayyip Erdogan said it would transform relations with Japan into a "strategic partnership".
"What happened at Fukushima upset all of us. But these things can happen. Life goes on. Successful steps are being taken now with the use of improved technology," the Turkish prime minister added.
The deal comes as part of renewed efforts to promote Japanese nuclear technologies abroad, despite concerns over safety.The deal comes as part of renewed efforts to promote Japanese nuclear technologies abroad, despite concerns over safety.
One of the Japanese firms included in the consortium is Mitsubishi Heavy Industries, one of the companies behind the Fukushima plant damaged in an earthquake in 2011. One of the Japanese firms included in the consortium is Mitsubishi Heavy Industries, one of the companies behind the Fukushima plant damaged in the 2011 earthquake and tsunami.
Turkey is also prone to earthquakes, and the government cited Japan's expertise in earthquake protection as one of the factors in signing the deal.Turkey is also prone to earthquakes, and the government cited Japan's expertise in earthquake protection as one of the factors in signing the deal.
The other firms are Itochu Corporation and French utility group GDF Suez.The other firms are Itochu Corporation and French utility group GDF Suez.
Japan is looking to boost exports of its technological expertise as it attempts to boost economic growth and escape two decades of near-stagnant growth. Japan is looking to boost exports of its technological expertise as it attempts to increase economic growth and escape two decades of near stagnation.
Fast-growing Turkey, meanwhile, is looking to invest in domestic energy generation to reduce its dependency on imports as the economy expands. Fast-growing Turkey, meanwhile, is planning to invest in domestic energy generation to reduce its dependence on imports as the economy expands.
The new nuclear plant will be Turkey's second. It currently imports almost 97% of its energy needs. The new nuclear plant will be Turkey's second. It is currently dependent on imported oil and gas to meet 97% of its energy needs.