Site Preparation Begins for New Enrichment Facility

Urenco received Main Board approval for its U.S. subsidiary Louisiana Energy Services to construct and operate the National Enrichment Facility in Lea County, N.M. This follows license approval by the Nuclear Regulatory Commission in June. The Board's commercial decision to approve the project gives the final go ahead for construction to begin.

Washington Group International Inc. was awarded the construction management services contract on the project. The facility, located in Eunice, will provide the U.S. with an alternative domestic source of the enriched uranium required to operate the country's commercial nuclear power plants.

Washington Group will utilize its wholly-owned subsidiary, Rust Constructors, to execute the construction management services on a merit shop basis. Most of the low-enriched uranium essential for fueling commercial power plants is produced abroad, and the new facility will help provide a reliable sustainable domestic supply of the material. When the facility is operating at full capacity, it will produce enough material to meet approximately one-fourth of the current U.S. enrichment services demand.

Groundbreaking took place in August, and initial construction activities will include selection of the civil and structural construction suppliers as well as the completion of initial site preparation.

The plant is strategically important for Urenco as it will create a production platform in the U.S., Urenco's largest single market. It will provide U.S. utilities with diversity of supply as it will become the second domestic U.S. supplier with a significant market share. U.S. utilities have continued to demonstrate their support for the facility with firm contractual commitments in place.

The project represents a $1.5 billion investment into the local area creating over 210 full-time jobs and over 1,000 multi-year construction positions in southeast New Mexico for the duration of the construction phase. First production from the facility is expected in late 2008 reaching full capacity by 2013.

Westlake Development Group Acquires Molina Building

Westlake Development Group LLC, headquartered in San Mateo, California, has purchased the Molina Healthcare Building from Horizon Rose Interests LLC and Horizon 350 LLC. The Molina Building is located on Horizon Boulevard NE, just off Alameda Boulevard in Albuquerque's North I-25 Corridor. Alameda Blvd. is considered the technology corridor of Albuquerque and home to many of Albuquerque's largest employers. This centrally located area is attracting more business due to convenient access to the labor base of the established northeast heights residential with the fastest growing areas of the city, the Westside and Rio Rancho.

The building is a four-story Class "A" office and includes 127,000 sq. ft. of rentable space. The building retains a state-of-the-art infrastructure and enjoys a history of high occupancy levels. The property also includes almost six additional acres of undeveloped land.

Correction:

In August's Top Specialty Contractors of the Southwest section, Four Suns Builders Inc. was inadvertently left off the New Mexico state chart. Four Suns Builders would have ranked #10, above Theco. We regret the error.

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