Thaindian News

LANHAM, MARYLAND (BNO NEWS) – President Barack Obama announced Tuesday that a federal loan of approximately $8 billion has been granted to build a new nuclear plant in Georgia.

The loan guarantee will be directed toward the construction of two new nuclear reactors at an existing plant in Burke, GA. Nobel prize-winning physicist, Dr. Steven Chu will be in charge of the project, which is the first new nuclear plant in the nation in nearly three decades.

The Department of Energy will create thousands of jobs through this project, and it plans to generate some 800 permanent jobs as well. President Obama continued to say he will maintain budget proposals with more loan guarantees that would triple the current amount, helping finance safe, clean nuclear facilities.

President Obama also acknowledged those who have disagreed within the current energy debate, but the President emphasized that the differences will not prevent the nation from making progress.

“But investing in nuclear energy remains a necessary step. And what I hope is that this announcement underscores both our seriousness in meeting the energy challenge – and our willingness to look at this challenge not as a partisan issue, but as a matter far more important than politics,” Obama said. “Because the choices we make will affect not just the next generation, but generations to come.”