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USEC Inks Agreement With Dept. Of Energy
< < Back toA uranium enrichment company with ties to Southeast Ohio is moving forward in a $350 million research and development deal with the US government.
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.