French nuclear fuel company Orano has announced plans to construct a state-of-the-art uranium enrichment facility in Oak Ridge, Tennessee. The project, valued at several billion dollars, aims to bolster US energy independence and reduce reliance on Russian uranium supplies.
The 750,000-square-foot facility is expected to create over 300 jobs in the area and begin operations in the early 2030s. This development comes in the wake of recent US legislation banning Russian uranium imports and allocating $2.7 billion for domestic uranium initiatives.
Jean-Luc Palayer, CEO and president of Orano USA, outlined the company’s roadmap for the project. Key priorities include garnering support from federal agencies, solidifying agreements with potential customers, and navigating the complex regulatory landscape. Palayer underscored the project’s significance in strengthening America’s domestic nuclear fuel production capabilities.
The project benefits from Tennessee’s Nuclear Energy Fund and a 40-year tax incentive plan. A 920-acre land parcel, set to be donated by the US Department of Energy, will house the plant.
Tennessee Governor Bill Lee, who, along with the General Assembly, established the Nuclear Energy Fund, expressed support for the project: “Tennessee is the number one state for nuclear energy companies to invest and thrive, and we are proud to partner with Orano to lead America’s energy independence and drive continued economic growth and greater opportunity for Tennesseans.”
Orano plans to produce low-enriched uranium up to 5% U235, with some production reaching 8%. The company will source uranium from US and international suppliers, including Canada.
This development is part of a broader industry shift. Other firms like Centrus Energy, Urenco, and Global Laser Enrichment are also expanding US uranium production capabilities.
Moving forward, Orano will assess market conditions to determine the plant’s initial size and capacity. The company is also exploring financing options, including potential discussions with the DOE Loan Program Office. This project marks a significant step in reshaping the US nuclear fuel landscape, promising both energy security and economic growth for the region.
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Publish date : 2024-09-05 01:30:00
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