Continued Funding Confirmed for CB&I MOX Project

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Dec 15, 2014, 05:00 ET

THE WOODLANDS, Texas, Dec. 15, 2014 /PRNewswire/ -- CB&I (NYSE: CBI) is pleased to report the U.S. Congress' continued funding for the Mixed Oxide Fuel Fabrication Facility (MOX) project located at the Savannah River Site near Aiken, South Carolina. Congress' 2015 omnibus bill calls for $345 million for continued construction of the MOX project and ensures that the funding must be used for continued construction of the facility in fiscal year 2015.

"CB&I commends Congress for providing adequate funding for the MOX project and for ensuring its construction next year," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "MOX is one of the most significant nuclear non-proliferation projects currently underway in the world, and support from Washington is critical for project execution and completion."

"When the President submitted his budget request to Congress this year, he proposed a short-sighted plan that would in effect shutter MOX while other options were studied," said U.S. Senator Lindsey Graham of South Carolina. "I am proud that we were able to overcome this misguided effort and secure the additional funding and authority to continue construction of the MOX facility."

About CB&I
CB&I (NYSE:CBI) is the most complete energy infrastructure focused company in the world and a major provider of government services. With 125 years of experience and the expertise of approximately 55,000 employees, CB&I provides reliable solutions while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.cbi.com.

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SOURCE CB&I