Centrus Energy plans to expand its manufacturing plant in Oak Ridge, Tenn. at an investment of more than $560 million, according to the company’s Jan. 23 press release.
The Bethesda, Md.-based uranium broker said the expansion of the Oak Ridge manufacturing plant supports its plans to expand the uranium enrichment plant at the Department of Energy’s Portsmouth site in Piketon, Ohio. Centrus announced plans to expand that facility last September.
Centrus recently received $900 million in funding from DOE to help facilitate the expansion at the Piketon plant to expand domestic uranium enrichment.
The first new centrifuges, which will be manufactured at the Oak Ridge plant, are expected to come online in Ohio in 2029, according to the release. Along with the expansion of the Oak Ridge facility, Centrus said nearly 430 jobs will be created through these plans.