Centrus explores Korean investment to expand Ohio uranium enrichment plant

Investing.com- U.S. nuclear fuel company Centrum Energy (NYSE:LEU) announced on Monday that it signed an agreement with Korea Hydro & Nuclear Power (KHNP) and Posco International (KS:047050) to explore a potential Korean investment for the expansion of its uranium enrichment plant in Ohio.

The non-binding memorandum of understanding, signed with the participation of US and Korean government officials, aims to deepen nuclear energy cooperation.

Centrus and KHNP also agreed to increase the supply volume of enriched uranium under a contract signed in February.

Amir Vexler, CEO of Centrus, said: “This deal reflects strong demand for US enrichment capacity and creates a potential channel for private investment.”

The entire supply commitment hinges on Centrus securing the necessary federal funding with which it is currently competing to build new production capacity.

The move is part of an effort to compete with foreign state enterprises that dominate the global enrichment market.

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