Idaho Uranium Enrichment Plant Wins $2 billion Loan Guarantee - Spokane, North Idaho News & Weather KHQ.com

Idaho Uranium Enrichment Plant Wins $2 billion Loan Guarantee

WASHINGTON (AP) - A nuclear project in Idaho is getting a $2 billion boost as the oil spill polluting the Gulf of Mexico has the government eager for alternatives to fossil fuels.

The Energy Department has announced a $2 billion loan guarantee for French-owned nuclear services company Areva Inc. to support construction of a uranium enrichment plant in eastern Idaho.

That news comes as President Barack Obama is poised to ask Congress to agree to $9 billion more in loan guarantees for the atomic energy sector. That's according to a Democratic aide who spoke on condition of anonymity.

The new spending follows $18.5 billion in nuclear loan guarantees the Obama administration announced in February to spur building of the first nuclear power plant in the U.S. in almost three decades.

 

(Copyright 2010 by The Associated Press. All Rights Reserved.)

 

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