Reason for today's move!|
BNFL Gets Radioactive Clean-Up Deal Worth Up To
LONDON (Dow Jones)--BNFL Inc., the U.S. subsidiary of British
Nuclear Fuels PLC (U.BNF) has reached an agreement with the U.S.
Department of Energy to remove radioactive waste from the U.S., the
parent company said Wednesday.
The 20-year deal is worth up to $6.9 billion, and involves removing
radioactivity from 54 million gallons of wastes stored at an underground
U.S. government site, near Richland, Washington.
The two part contract will result in the safe treatment of about 10% of the
waste, equal to 20% to 25% of the radioactivity, by 2018.
BNFL Inc. submitted its proposal more than five months ago, and received
the go-ahead from the DOE on Tuesday, a spokesman said.
The final contract and authorization to proceed with the project is expected
after a 30-day review by Congress.
Under the deal, BNFL Inc. will work in partnership with Bechtel National
Inc., BNFL Engineering Ltd., GTS Duratek Inc. (DRTK) and Science
Applications International Corp. (X.SAP).
British Nuclear Fuels PLC is wholly-owned by the U.K. government.