(The Center Square) – Oak Ridge has been named the preferred site for an Orano USA centrifuge uranium enrichment facility, state leaders announced on Wednesday.
The multi-billion dollar project is expected to cover about 750,000 square feet. The company plans to invest $5.5 billion in the project, according to Tennessee Sen. Ken Yager, R-Kingston.
Gov. Bill Lee’s office said the project will be the second that will use the state’s $50 million Nuclear Energy Fund, which received $10 million more in funding last legislative session.
The announcement did not specify how much of those public funds would go to Orano.
The company is expected to hire 300 workers at the facility.
“This announcement puts Tennessee firmly on the cutting edge of the future of nuclear power. Energy independence will be critical to our nation’s success,” said Tennessee Lieutenant Gov. Randy McNally, R-Oak Ridge. “The development and expansion of clean and efficient nuclear power is the path to that independence.”
Orano specializes in uranium mining/conversion/enrichment, used nuclear fuel management and recycling, decommissioning shutdown nuclear energy facilities, federal site clean-up and closure and developing nuclear medicines to fight cancer.
The company’s global headquarters is in Paris, where Lee spent more than $117,000 of taxpayer funds over a six-day economic development trip last year.
Tennessee Department of Economic and Community Development Commissioner Stuart McWhorter was also on the trip.
“We’re already preparing for our next required steps, including securing available federal support and customer commitments, obtaining an NRC license and Orano’s Board approval, but today 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,” said Orano USA CEO and President Jean-Luc Palayer.