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DOE Allots $34M To Keep USEC Uranium Project Afloat

Law360, New York (April 22, 2014, 5:00 PM EDT) -- A uranium enrichment project in Piketon, Ohio, may continue through the end of September, running on $34.1 million from the U.S. Department of Energy as the parent company USEC Inc. undergoes Chapter 11 proceedings, according to a Friday motion in Delaware bankruptcy court.

Under the final draft agreement between USEC and the government's Oak Ridge National Laboratory in Tennessee, "ORNL would provide the debtor with fixed-cost funding in the amount of $34,132,445 for the period from May 1 to [Sept.] 30, for the debtor to maintain...
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