Brazil has unveiled plans to build a $483 million nuclear reactor to produce molybdenum-99 (Mo-99) and industrial-grade enriched uranium.

The Brazilian newspaper O Estado de S. Paulo reported that the facility will be built in Iperó, approximately 80 miles southeast of São Paulo. It is the same area where the Brazilian navy is developing a nuclear submarine project and building ultracentrifuges to enrich uranium.

According to the report, the reactor could be online in 2014.

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