Centrifuge loan pursuit enters next phase

Chillicothe Gazette

PIKETON -- The U.S. Enrichment Corp. Wednesday touted a significant step forward for the American Centrifuge project.

USEC announced late Wednesday afternoon that its initial technical review of USEC's resubmitted $2 billion loan guarantee application largely has been completed.

That means the process toward the guarantee now can move onto its next step, which USEC President and CEO John Welch told the Gazette earlier this month would be a due diligence review -- basically a closer examination of USEC itself.

USEC had to revisit its original loan guarantee application after the Department of Energy put a final review of it on hold in the summer of 2009 due to several technical and financial concerns.

As part of Wednesday's announcement, USEC also indicated the Department of Energy has issued a framework for negotiations to begin toward reaching a conditional agreement on the loan guarantee.

To read the rest of the article, please click the source link above.

Centrifuge loan pursuit enters next phase »