WASHINGTON -- The planned uranium-enrichment plant project in Piketon, Ohio, faces "demobilization" beginning in August unless the federal government grants a $2 billion loan guarantee, says USEC Inc.
USEC, the suburban Washington company trying to build the $3.5 billion advanced-technology plant on the same site where it ran the enrichment facility closed in 2001, has indicated for months that without the loan guarantee from the Department of Energy, the Piketon project would fail to get needed financing.
USEC has spent about $1.4 billion to build a test plant and begin work on the full-scale commercial facility, which would make fuel for nuclear power plants. The company says the enrichment plant could be operating by early 2011.
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