PIKETON, Ohio -- A week after saying it wouldn't guarantee a loan for the project, the Obama administration is now offering more time to a company planning a uranium enrichment plant in southern Ohio.
The Department of Energy said Tuesday it will hold off a final review of the application from Bethesda, Md.-based USEC Inc. for at least six months. That's a softening of the department's position from last week, when it asked the company to withdraw the application and come back again in 12 to 18 months.
Energy Secretary Steven Chu says the administration is allowing USEC to test its technology more fully and line up additional financial support for the project in Piketon.
USEC CEO John Welch calls it a "path forward" for a loan that the company has said is crucial.
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