Federal spending bill has $118 million for Piketon uranium plant

The Columbus Dispatch

WASHINGTON — The massive $1.1 trillion spending bill approved yesterday by Congress includes $118 million for the soon-to-be bankrupt company that wants to launch a uranium-enrichment facility in southeastern Ohio.

USEC, the Maryland-based company that wants to build the plant in Piketon, signaled in December that it would declare bankruptcy during the first quarter of 2014.

But a company spokesman said the company has plenty of liquidity, and it is declaring bankruptcy to restructure about $530 million in bonds that were scheduled to mature in October 2014.

“We are operating our business,” said Paul Jacobson, a spokesman for USEC. “There’s no risk to the taxpayers here, and this is about continuing the program so it’s ready should a national security need arise.”

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