Tsunami 'may cost $309bn'

Japan’s government said the economic costs of the catastrophic March 11 earthquake and tsunami could reach $309bn.

The damage to housing, infrastructure and businesses in north east Japan could cost between 16 trillion yen and 25 trillion yen ($309bn), according to the cabinet office.

The 9.0-magnitude quake and tsunami devastated Japan’s north eastern coast, killing thousands of people and triggering a crisis at a nuclear power plant.

Tens of thousands of people living near the plant were evacuated.

Utilities have imposed power rationing, many factories remain closed and key rail lines are impassable.


Most Read in Business

World Markets