USEC suspends work on Ohio uranium plant after the Dept. of Energy denies loan guarantee
By APTuesday, July 28, 2009
USEC denied loan guarantee to finish uranium plant
BETHESDA, Md. — USEC says the Department of Energy has denied its application for a $2 billion loan guarantee to complete the construction of an Ohio uranium enrichment plant.
The Bethesda, Md. company is taking steps to “demobilize” the project, USEC President and CEO John K. Welch said Tuesday in a statement.
USEC Inc. has spent $1.5 billion developing the plant in Piketon, Ohio about 65 miles south of Columbus. The total cost was pegged at $3.5 billion. The company said in June that without the guarantee, it wouldn’t be able to obtain private loans.
USEC spokeswoman Elizabeth Stuckle said Tuesday the company would try to find other financing, but that would be difficult in the current economic environment.
Tags: Bethesda, Maryland, Middle East, North America, Ohio, United States, Usec
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September 20, 2009: 12:34 am
It’s either this or continue buying oil and dying in the oil companies’ wars and those of Israel. One or the other. With energy independence, we have very little interest in the Middle East! |
Robert Brown