Tepco employees work at the emergency operation room at the Fukushima Dai-Ichi nuclear power plant in Okuma , Japan . The company said yesterday it is considering spending about $25.6bn on strategic investments through partnerships. Bloomberg /Tokyo Tokyo Electric Power Co, operator of the wrecked Fukushima Dai-Ichi nuclear power plant, is considering spending about ¥2.67tn ( $25.6bn ) on strategic investments through partnerships as it seeks to move beyond the Fukushima disaster. Of the planned investments, the utility known as Tepco plans to borrow ¥2tn in fresh loans from lenders, President Naomi Hirose , 60, said in an interview in Tokyo yesterday. The utility will make loan requests to banks as soon as possible, Hirose said, declining to specify a timeframe. "For the sake of Fukushima's reconstruction, we have to seek growth," Hirose said in the interview, three days after the company released the latest plan to turn itself around after almost three years marked by mounting losses, scares over contaminated groundwater and continuing cleanup efforts. The financing plans outlined by Hirose are an attempt by Tepco , Japan's biggest utility, to chart a fresh course separate from the troubles that have befallen the company in the aftermath of Fukushima. The disaster looms large over the Tokyo -based company, shadowing any attempts to rebuild or to boost morale among its employees. More than 2,000 workers had left Tepco by the end of March 2013 since the Fukushima disaster in 2011 pushed the company to the brink of bankruptcy, forcing it to shrink overseas projects and reduce employees' salaries and bonuses. Tepco executives, including Hirose, have voiced concern that the exodus would severely hurt the company as hundreds of talented younger workers leave. The growth strategy in the business plan "would help Tepco make its employees believe it is returning to a normal company and stop some of them from fleeing the utility," Shinichi Yamazaki , a Tokyo -based analyst at Okasan Securities Group said in a January 17 phone interview. As part of the growth strategy outlined on January 15 , Tepco said it planned to invest in upstream energy projects and overseas electricity businesses in the ten years through 2022. Tepco has received "several offers" related to shale gas projects and plans to make an investment decision as early as fiscal 2014, which starts April 1 , Hirose said in the interview. He declined to provide details as talks are private. The utility's fuel and power unit aims to cut Tepco's skyrocketing fuel bill by teaming with partners on everything in its supply chain from upstream energy investment to power generation, according to the turnaround plan. Tepco plans to boost its LNG procurement volume to as much as 40mn metric tonnes per year through the partnership from current 20mn tonnes on its own, it said. "To fulfill our responsibilities in Fukushima, we will need a lot of money and are being granted a goodly amount of the government's money," Hirose said. "We have to repay it by improving corporate value." The Tepco turnaround plan's reliance on restarting idled nuclear power reactors has served as a lightening rod for criticism directed at the company by foes who oppose restarts. All of Japan's 48 nuclear operable reactors are shut, forcing the nation to rely on fuel imports that helped push the current account into the largest deficit on record in November. Tepco's Fukushima Dai-Ichi nuclear plant, 150 miles (240 kilometres) north-east of Tokyo , was hit by a giant tsunami caused by the March 11, 2011 earthquake. Operators lost control of power supply and emergency backup systems failed, causing the world's worst nuclear accident since Chernobyl. Since the Fukushima accident, Tepco has had to contend with both the disaster's aftermath and the challenge of surviving as a company. Tepco provides power to 29mn customers in the Tokyo metropolitan area. The accident has also reverberated throughout Japan , affecting everything from energy prices, company planning and a debate over the island nation's energy mix. The February 9 election for Tokyo governor may prove a litmus test for the Japan public's acceptance of nuclear power after former Prime Minister Junichiro Koizumi , who has renounced the use of atomic power, backed candidate Morihiro Hosokawa , another former prime minister seeking the Tokyo job on an anti-nuclear platform. Nuclear plants produced more than 25% of Japan's electricity before the disaster. Since Fukushima, the nation's utilities have had to import more oil, coal and gas. As a result, Japan has posted a trade deficit for 17 straight months and the current-account shortfall widened to a record in November. In addition to relying on nuclear restarts, the turnaround plan calls for Tepco to adopt a holding company structure by 2016, assuring bond investors that the resulting subsidiaries have sufficient collateral to cover outstanding debt. Tepco hasn't sold bonds publicly since the 2011 earthquake and Fukushima meltdown and the company says it now plans to return to the market in the fiscal year starting April 1, 2016 . Tepco's shares are largely unchanged since August when the company said it had been contending with leaks of contaminated water from storage tanks at the Fukushima plant. The shares have declined 1.6% since August 30 , compared with a 17% advance for Japan's Topix index.
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