Status report on uranium enrichment associates

Uranium Enrichment Associates (UEA) had as its priority project financing, an approach in which the total project is financially self-liquidating. UEA worked with financial institutions to define the combination of assurances and guarantees required by lenders in order to provide the required debt funding. UEA's assets against which the debt liability for the plant would be balanced would be the facilities under construction and the equipment on order. On the customer side, there was major concern on the part of the utilities of whether private industry would be able to complete and operate the plant owing to many of the same possibilities which concerned financial institutions. The disparity between the conditions under which financing could be obtained and the terms acceptable to utilities was a significant element in EUA's choice of process to use for its enrichment plants. UEA's technical staff then began to parallel conceptual designs of gaseous diffusion and gas cenrifuge plants. UEA negotiated with ERDA on the terms of a Cooperative Arrangement, within the provisions of the NFAA, providing the minimum conditions necessary to obtain financing and contracts with utilities for enrichment sources. The UEA plant has several features different from the ERDA plants. The UEA plant used only two basic stage sizes. The UEA design employed four main process buildings. The partners in UEA have mutually agreed to follow the private uranium enrichment project to a logical conclusion. 6 figures