Orano Chooses Tennessee for Multi-Billion Dollar Uranium Enrichment Plant

France's state-owned nuclear fuel company Orano announced its selection of Oak Ridge, Tennessee, as the site for a new multi-billion dollar U.S. uranium enrichment plant. This move aligns with recent U.S. legislation aimed at reducing dependency on Russian enriched uranium, and the project is set to create over 300 jobs.

Orano, France's state-owned nuclear fuel company, has chosen Oak Ridge, Tennessee, as the location for a new multi-billion dollar uranium enrichment plant, officials from Tennessee and Orano confirmed on Wednesday.

This decision follows President Joe Biden's administration signing legislation designed to curb reliance on Russia for enriched uranium. The law bans imports of Russian enriched uranium and allocates up to $2.7 billion for domestic uranium endeavors. Jean-Luc Palayer, CEO and president of Orano USA, noted that the company is preparing for next steps, including securing federal support, customer commitments, a license from the Nuclear Regulatory Commission, and board approval.

"We celebrate this major milestone towards bringing a new enrichment facility online to help meet our country's need for an increased, secure domestic nuclear fuel supply," stated Palayer. Orano USA, headquartered in Bethesda, Maryland, expects the Tennessee plant to create over 300 jobs. The project is also receiving backing from Tennessee's Nuclear Energy Fund, which has about $60 million in approved funding.

(With inputs from agencies.)