URENCO secures €350 million EIB debt facility
24 September 2009
On 22 September 2009, URENCO received formal approval from the European Investment Bank (EIB) for a €350 million facility.
This is the second loan facility URENCO has received from the EIB and will be used to finance projects at the Group’s British and Dutch sites. Projects to be financed include further enrichment capacity expansion at Almelo, the Netherlands, infrastructure investments at both the UK and Dutch sites and the construction of the Tails Management Facility at URENCO’s UK site in Capenhurst.
URENCO anticipates that capital expenditure for building new enrichment capacity at its sites across Europe and in the US will total approximately €3.5 billion over the next 5 years, which is supported by the Group’s strong forward order book of over €18.5 billion extending beyond 2025.
The approval procedure involved a detailed due diligence process by the EIB covering financial and environmental aspects of URENCO’s operations, in order to ensure that the EIB’s strict lending criteria were met. The final approval of the loan is a testament to the Group’s excellent safety and environmental record, in addition to its robust financial position and prospects.
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Contact:
Investor relations:
Name: Navreet Doad
Title: Investor Relations
Tel: +44 (0) 1628 402279
Email: navreet.doad@urenco.com
Media relations:
Name: Jayne Hallett
Title: Head of Group Communications
Email: jayne.hallett@urenco.com
Tel: +44 (0) 1628 402297
The URENCO Group
URENCO is an independent international energy and technology group with its head office based in Marlow, UK. It operates plants in Germany, the Netherlands and the UK, and in the near future at a fourth site in New Mexico, US. It operates in a pivotal area of the nuclear fuel supply chain, which enables the sustainable generation of electricity for consumers around the world.
Utilising its own centrifuge technology, URENCO provides safe, cost-effective and reliable uranium enrichment services for civil power generation within a framework of high environmental, social and corporate responsibility standards. Currently URENCO fulfils around 25% of the global enrichment market, and the goal is to continue to build market share, with the aim of establishing URENCO as the leading global supplier of enrichment and enrichment technology.
www.urenco.com