Japan reconstruction said held up by red tape

Aug 20, 2012 | 10:08 AM | None

Tags  steel, reconstruction, earthquake, tsunami

TOKYO — Japanese steelmakers are not expecting a significant increase in demand this year from reconstruction in the northeast part of the country, which was devastated by an earthquake and ensuing tsunami last year.

Nearly 18 months after the disaster that ravaged northeastern Japan, steelmakers have still not enjoyed much of a boost from reconstruction activity.

While the government has allocated a huge amount of funds to help rebuild the region, one steel mill official told AMM sister publication Metal Bulletin that much of the money is still not available as local administrations draw up spending plans. ....

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