Fri Mar 5, 2010 2:26am IST
WASHINGTON, March 4 (Reuters) - The U.S. Energy Department is moving closer to a decision on Areva's (CEPFi.PA: Quote, Profile, Research) request for a $2 billion government loan guarantee to help build an uranium enrichment plant that would make fuel for nuclear power reactors, Energy Secretary Steven Chu told Congress on Thursday.
"We're closing in on the Areva (application) as quickly as we can," Chu told members of a Senate Appropriations subcommittee during a hearing on the Energy Department's budget.
Chu responded to complaints from Senator Robert Bennett that the department was taking too long to finalize Areva's application, which was filed in September 2008.
Chu said the nuclear loan guarantee requests take a while to review because the projects are very complicated and cost a lot of money.
French-based Areva makes nuclear reactors worldwide.
A spokesman for Areva's U.S. operations said the Energy Department had not indicated to the company that a decision on its loan guarantee request would be coming any time soon.
"Areva has completed all the necessary steps for DOE to make a decision," the spokesman said. "We are just in a waiting mode."
Areva's Eagle Rock uranium enrichment facility would be located in Idaho and has a $3 billion price tag.
The company expects the Nuclear Regulatory Commission will decide sometime next year on a license for the facility. Areva plans to have the plant in operation in 2014, the spokesman said. (Reporting by Tom Doggett; Editing by Marguerita Choy)
Source: http://in.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idINN0417604220100304
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