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GE Likely to Spend $1 Billion at Paducah Plant
By WestKyStar Staff
PADUCAH, KY - A well-known corporation and hundreds of jobs are likely coming back to the Paducah Gaseous Diffusion Plant.

In a joint press release from Kentucky Senators Mitch McConnell and Rand Paul and Congressman Ed Whitfield, the legislators confirmed that DOE will exclusively negotiate with GE Hitachi's Nuclear Energy subsidiary, GLE. Pending an agreement, they will invest over $1 billion and create a state-of-the-art laser enrichment facility at the site that will create thousands of construction jobs, and hundreds of permanent jobs.

Their statement said the meeting on Nov. 14 with DOE Secretary Ernest Moniz stressed the importance of Paducah's long-term interests, and that GLE made a commitment to Paducah early on. The plan should save the federal government money, revive the US domestic nuclear supply chain, and generate billions in tax revenues for local, state, and federal government.

McConnell, Paul, and Whitfield said Paducah is a proud city, and they are thrilled GE has placed its confidence in the people of Paducah to host this facility. They said the city has a bright future ahead, and they are genuinely grateful to be a part of it.

Christopher White, Communications Leader for GLE, said that there are still several steps required before construction can start, but they are excited to share the news about negotiations, which should begin soon.

"What we're really doing is looking at things like terms and conditions, and trying to work out and agreement that works both for the company, for the local residents, and for the DOE - for the government," White said.

Since negotiations are just beginning with the DOE, there is currently no timeline for construction or completion of a facility. White also said securing Nuclear Regulatory Commission approval for their project could take 2-3 years.

“We are excited about entering exclusive negotiations with the DOE for the Paducah facility and the prospect of tapping into the highly-skilled nuclear workforce in the area,” said Chris Monetta, President and CEO of GLE. “We are equally as excited about potentially playing an important role in securing our nation’s energy future with a reliable, U.S.-based supply of natural uranium for years to come.”




 



On the Net:

Senator McConnell talked to Greg Dunker of WKYX-WNGO about GE deal
Related story - reaction, etc.


Published 11:38 AM, Wednesday Nov. 27, 2013
Updated 04:56 AM, Saturday Nov. 30, 2013

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