The European Investment Bank (EIB) is lending €200 million to Urenco to help expand two uranium enrichment plants, in England and the Netherlands.

The money will help the company install new centrifuge cascades in both plants.

The EIB memorandum stated: “This project forms part of the company’s medium-term investment programme, meeting global uranium enrichment demand by the use of Urenco’s world-leading energy-efficient technology.”

The company has carried out environmental impact assessments of the projects to secure the money, with the EIB saying they comply with Euratom and International Atomic Energy Agency guidelines.

The bank said the plan fulfilled EU energy policy, which seeks diversification of secure energy sources.