Novouralsk (Urals Electrochemical Combine)

Novouralsk (Urals Electrochemical Combine) is a enrichment facility operated by TVEL Fuel Company in Russia. It has a capacity of 13,300 tSWU/yr as of 2026, about 20% of world enrichment capacity.

The largest enrichment plant in the world by a wide margin, on its own roughly the size of all four Urenco sites together and larger than the entire enrichment capacity of the United States, France and Japan combined. Not under safeguards: Russia is a weapon state and its civil enrichment is not subject to IAEA inspection.

At the market indicator. 13,300 tSWU/yr of nameplate capacity, valued at US$ 200.00 per SWU spot, comes to roughly US$ 2.66 billion a year, or US$ 2.43 billion at the long-term indicator. Treat both as scale, not revenue: most volume moves under contracts signed years earlier at prices neither figure reflects, and nothing here is netted against the cost of producing it. The indicators, and forty years of history behind them, are on fuel market prices.