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GE to move ahead with $1B uranium enrichment facility in Kentucky

Published 11/11/2016, 08:39 AM
GE to move ahead with $1B uranium enrichment facility in Kentucky
CCJ
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GE
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  • The Department of Energy agrees to sell depleted uranium from the Paducah Gaseous Diffusion Plant to enrich at a new $1B state-of-the-art facility in Kentucky, to be built and operated by GE-Hitachi's Global Laser Enrichment.
  • The GE-Hitachi venture will finance, construct and operate the facility under a Nuclear Regulatory Commission license.
  • Global Laser Enrichment is 62.5% owned by GE-Hitachi, which is 60% owned by General Electric and 40% by Hitachi, resulting in indirect interests in GLE of 37.5% by GE and 25% by Hitachi.
  • GE also has a direct interest of 13.5% IN GLE, resulting in a direct and indirect ownership of 51%, meeting a U.S. requirement that nuclear facilities be majority owned by a U.S. company; the remaining 24% is held by Canadian uranium producer Cameco (NYSE:CCJ).

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