URENCO URANIUM ENRICHMENT FACILITY II

Expansion of the uranium enrichment capacity in Urenco's facility in Almelo, the Netherlands, to provide energy-efficient enrichment services for increasing demand. Construction of a new Tails Management Facility in Urenco's plant at Capenhurst, United Kingdom, to facilitate the long-term storage of depleted uranium ("Tails") resulting from the enrichment process. Upgrading and developing the infrastructure on both sites.

The Project will contribute to covering world and EU demand of enrichment services. Furthermore, it is an important objective of the EU to have sufficient enrichment capacity for security of supply reasons, as reflected in the Euratom policy.

The Project is expected to comply with Community policy and legislation in the field of the environment, to be confirmed during the appraisal.

The centrifuge technology, required to supply the enrichment capacity expansion of the project in Almelo, will be supplied by enrichment technology company ETC (a joint venture company in which Urenco owns a 50% interest).

The other procurement processes will be assessed during appraisal.