USEC Inks Agreement With Dept. Of Energy

Maryland-based USEC Incorporated  and the Department of Energy have signed a cooperative agreement for the American Centrifuge project, which includes the nuclear plant in Piketon.

 

USEC is putting up $70 million toward the agreement and the DOE is investing $280 million. The two organizations will initially invest $110 million, which is expected to fund the project through the end of November.

 

The DOE will also assume responsibility of disposing of the plant's uranium tails, a byproduct of uranium enrichment.  The move will provide nearly $88 million to the cost-sharing agreement.

 

According to a release from USEC, the deal will support more than 1,000 direct jobs during the program.

 

The program will include building, installing, operating and testing support systems at the commercial plant.