EIB, Orano sign €400m loan agreement for Georges | Mining News

Analyst
Mar 11
2 min read

EIB, Orano sign €400m loan agreement for Georges – Mining News

The European Investment Bank (EIB) and Orano have signed a €400m ($433.5) loan agreement to finance the growth of the Georges Besse 2 uranium enrichment plant in Tricastin, France.

The EIB loan helps an general investment of practically €1.7bn by Orano, primarily involving European applied sciences and the providers of French corporations.

The growth goals to increase the plant’s uranium enrichment manufacturing capability by 30% with the addition of 2.5 million separative work items (SWUs).

The project will add 4 modules to the present 14, utilizing recognised technology that ensures security, competitiveness and power effectivity whereas decreasing environmental affect.

This will improve general enrichment capacities in Europe, addressing the wants of Orano’s utility clients.

This project is in step with the European strategy to lower the EU’s reliance on fossil fuel imports and velocity up the shift in direction of low-carbon power sources.

Initial operations are anticipated to begin in 2028, with full commissioning anticipated by 2030.

Orano CEO Nicolas Maes stated: “We are very proud of this cooperation, which represents additional recognition of the strategic worth of our investment plan for the climate and for the manufacturing of sustainable and decarbonised power.

“The financing granted by the EIB for the capacity expansion at our Georges Besse 2 enrichment plant is perfectly in line with this objective, as the project will make it possible to take the number of households supplied with low-carbon energy up to a total of 120 million. Not least, in the current geopolitical context, this support for our activities from the EIB will help to strengthen security of supply in the European Union.”

The project was notified beneath Article 41 of the Euratom Treaty on 7 September 2023.

On 9 October 2024, the European Commission issued a beneficial opinion, confirming that the project aligns with the Euratom Treaty and helps Europe’s security of provide.

In January 2025, Orano and Mongolia’s Government entered an agreement to develop a $1.6bn (Tg5.55trn) uranium project within the Dornogovi province of Mongolia.