FRANK LEWIS
PDT Staff Writer
PIKETON -- U.S. Energy Secretary Steven Chu announced today that the Obama Administration reached a major milestone in its efforts to secure an advanced domestic uranium enrichment capability for national security purposes. The Energy Department, USEC Inc. and American Centrifuge Demonstration, LLC, have signed a set of agreements that will enable the research, development and demonstration (RD&D) project at the American Centrifuge Plant (ACP) in Piketon, by moving forward with an up to $350 million cooperative effort. DOE will provide 80 percent, or $280 million, and USEC 20 percent, or $70 million. “Today, after months of hard work, I am pleased to announce that the Obama Administration has reached a major milestone in our efforts to advance the technology at the American Centrifuge Plant and strengthen U.S. national security,” Secretary Chu said. “Under the new agreement, we will be able to move forward with this critical research, development and demonstration effort while ensuring strong protections for the American taxpayers.” USEC and DOE will initially provide $110 million in cost-shared funding for the program. This is intended to last through the end of November. DOE’s portion of the funding will come from taking the disposal obligation for a quantity of depleted uranium tails from USEC, releasing $87.7 million in cash for use in the RD&D program that USEC had previously committed as security for future tails disposition obligations. “Our agreements reflect the importance of this U.S. technology to our national security and will validate the readiness of the American Centrifuge technology for commercial deployment,” John K. Welch, USEC president and CEO, said. “Over the last several months, we have been preparing our demonstration facility for installation of a full-scale commercial cascade with related plant infrastructure. With this RD&D agreement in place, we will move rapidly to build additional AC100 machines and related support systems to complete the demonstration cascade. The program will demonstrate the American Centrifuge technology as the next generation of U.S. enrichment technology that is essential to meet our nation’s future national security requirements.” Welch said upon completion by the end of 2013, the RD&D program will fully demonstrate that the American Centrifuge technology is ready for commercial deployment. Chu said The RD&D at ACP will be managed under a new enhanced governance structure that strengthens the roles of other project partners such as Babcock and Wilcox (B&W) and Toshiba Corporation, which will provide additional project management support and personnel for the program. Portsmouth developer Jeff Albrecht sees an increased role by USEC’s financial partners as an important ingredient in bringing the deal to fruition. “There’s an increased involvement of Babcock & Wilcox and Toshiba, and that is what the DOE has wanted all along. And that’s what USEC has fought,” Albrecht said. “So USEC has finally given in. So DOE has got the involvement of two very very financially strong, very capable corporations. And the federal government is taking ownership of the centrifuges. So, therefore, even if something happens to USEC, the project can continue.” Albrecht also credited local involvement. “It’s our calls, and the fine people from Pike County that have been involved, and the Commissioners and all the people who have put pressure on them,” Albrecht said. “I think it’s the public voice that has made this happen. So I’m proud to say we were all part of the successful effort. Our voices were heard in Washington DC.”Frank Lewis may be reached at 740-353-3101, ext. 232, or at flewis@heartlandpublications.com
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What property has he developed ? People in Portsmouth, every time they want a piece of important or key property, like the Portsmouth City Building, then start referring to themeselves as developers.
Then in a previous Portsmouth Time article he says "Step three would be selling the existing city building property on Second Street to a private developer.(Oh a self proclaimed developer like himself ? ) They would sell it for whatever they can get for it at an auction, Whoever wants to buy it can buy it."
Oh would he sell his hotel for "whatever he cant get for it" ? Heck no !
But its ok to sell the taxpayers property / City Building for whatever they can get out of it, so all the local so called "DEVELOPERS" hope they can get it dirt cheap!
Portsmouth, Ohio has more crooks, developers, government and shady business people than any city in the entire state of Ohio. (Remember Martings Building and the Adelphia building, two great purchases, and both are rotting to the ground. Your highly intelligent city council and past Mayors at work.)
This is why no Department Stores locate here, no Industry, no anything. Where inside the city limits of Portsmouth do you shope for clothes, buy a blanket, but a suit and tie, but some new dishes ? This town has nothing.
I drove from Huntington, West Virginia Monday, throught 52 West in Sciotoville, the grass was 6 to 7 feet tall along the highway in the city limits of Sciotoville / Portsmouth.
There are to many Donald Trump wanna be's.
You spend hungry councilmen would have plenty of money for new city buildings, if you would recruit industry. You guys have no clue how to do it. All You know how to do is put tax levies on the ballot.
But it really doesnt matter, no President is going to locate his company in this crooked city!
Every city in Ohio prospers, but not Portsmouth!
Anybody notice it was only $238 million. Big, big difference in the "up to" 2 billion that was discussed 3 years ago in the following article:
http://portsmouth-dailytimes.com/view/full_story/1911393/article-USEC-Announces-Slowdown-Of-Construction?
OH the things that make you go hmmmm. It's all a ploy to get through November. It will never be done. It's an election year ploy.