GLE clears hurdle toward uranium enrichment plant

Global Laser Enrichment, a business venture of General Electric Co., Hitachi Ltd. and Cameco Corp., said Tuesday it completed its license application to the U.S. Nuclear Regulatory Commission to build the world's first commercial uranium enrichment facility to use laser technology.

GLE said the new facility, to be built in Wilmington, N.C., would produce a new domestic supply of low-enriched uranium used to power nuclear plants to meet an anticipated increase in global demand.

If approved, the facility could create up to 300 permanent engineering and support staff positions and more than 500 construction jobs, GLE said.

Shares of GE fell 4 cents to close at $11.72 on Tuesday. Hitachi shares slid 68 cents, or 2.2 percent, to $30.97, while Cameco shares dropped 45 cents to finish at $25.60.