OAK RIDGE, Tenn. — In a landmark decision announced last week, Orano USA has selected Oak Ridge for the site of a new multibillion dollar uranium enrichment facility, representing the single largest investment in Tennessee’s history.
Gov. Bill Lee announced the news during a press conference at the Oak Ridge Enhanced Technology and Training Center. He was joined by city, state and federal officials who praised the project’s scale and significance.
The new facility, spanning 750,000 square feet, will become one of the largest uranium enrichment plants in North America, solidifying Oak Ridge as a hub for nuclear technology and innovation.
The ambitious endeavor, known as Project IKE, will be located on a 920-acre site on the Roane County side of Oak Ridge. The U.S. Department of Energy (DOE) land will be transferred to Orano USA.
The project will lead to the creation of more than 300 jobs, offering a substantial boost to the local economy. Lee emphasized the importance of these jobs.
Orano is a leading player in the nuclear industry. The French-owned company specializes in uranium mining, conversion, enrichment, used nuclear fuel management and recycling, decommissioning, site cleanup, and nuclear medicine.
Project IKE will be the second major project in Tennessee to benefit from the state’s Nuclear Energy Fund, an initiative that helps nuclear-related businesses establish or expand operations in the Volunteer State. The fund also supports Tennessee’s universities and research institutions in furthering their nuclear education programs.
Orano USA will begin the licensing process with the U.S. Nuclear Regulatory Commission and anticipates the facility could begin production in the early 2030s, according to Palayer.
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