Brown announces USEC’s conditional loan application

Portsmouth Daily Times

By adding a single word — “conditional” — the approval of a $2 billion loan guarantee from the Department of Energy for the USEC American Centrifuge Project at Piketon might be on a faster track.

“We want him (Steven Chu, secretary of the DOE) to do the conditional guarantee so we can begin to move on the full process of getting private money from Toshiba and Babcock & Wilcox, and public dollars, the guarantee from the government, then the hiring can begin,” U.S. Senator Sherrod Brown (D-OH) told reporters at the USEC facility Thursday afternoon.

Brown said the parties involved in the process on behalf of USEC are asking for the conditional loan guarantee.

“If we wait until all of the test runs are done, it would make it, I believe, harder for investors, and it would mean the job growth would take place later,” Brown said. “And I want to move as fast as we can.”

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Brown announces USEC’s conditional loan application »