Ottawa County news. (Port Clinton, Ohio) 1931-1956, 1953-09-18

Ohio, both on the Ohio River.
These sites we're chosen because
they offered number of import
ant advantages: proximity to ec-
onomical coal reserves; low-cost
transportation; and adjacency both
to the Acc center and to existing
transmission systems of the Is
sponsoring companies.
The two generating plants are To-
Gated in the largest pool of direc.
~ and indirectly interconnected
electrical power systems in the
country today. This interconnection
will supply power to the atomic
center for construction purposes
while the generating plants are
being built. Later, when the new
diffusion center is in operation,
the interconnected system will also
be standing by" wi h an emer-
gency supply of power.
The steam-generated power plant
at Gallipolis will house five turbo-
generators of 100000 kilowatts
each-1 100000 kilowatts in all.
The Indiana plant will be even
larger, providing total of 1,2OO,-
600 kilowatts.
In addition to supplying the
needs of the Atomic Energy Com
mission, the new power stations in
the Ohio Valley will have a SUBJ
stantial influence upon tn e area
in which they are located.
They will provide thousands OF
Jobs during the construction per-
iod and permanent emplyment for
hundreds. In addition, they will
pay hundreds of thousands of dol
lars in federal, state and local
taxes.
Other industries will also bene-
fit According to the Ohio Valley
Electric Corporation, the two
plants will consume 100000 tons
of coal per year. Their coal stor-
age yards will be among the larg-
est in the country, holding COM
bined total of 100000 tons.
The mammoth power stations
have been named Kyger Creek
Plant in Ohio and the Clifty Creek
Plant in Indiana. The first con-
crete pour was started at the In
diana station last May; at the Ohio
station on July 81 of this year. The
first generating unit in the Clifty
Creek plant is scheduled to be in
operation on January l, 1855, and
the first unit at the Kyger Creek
plant on March l of the same year.
The Ohio Valley Electric Corpor-
alton is the joint enterprise OF the
following business managed elec-
trio utility companies: Appalach-
ian Electric Power Co., T h e Gin
cinnati Gas and Electric Co., Co
lumbus and Southern Ohio Electric
Co., The Dayton Power and Light
Co.. Indiana and Michigan Elec-
trio Co., Kentucky Utilities Co.,
Louisville Gas and Electric Co.,
Monongahela Power Co., Ohio Edi-
son Co., The Ohio Power Co., Penn
sylvania Power Co., The Potomac
Edison Co., Southern Indiana Gas
and Electric Co., The Toledo Edi-
son Co., and West Penn Power Co.
Actual cost of the Clifty Creek
plant is estimated to be alb o u t
SITS, 100000. The Kyger Creek
plant will cost another estimated
$145, 100000. Total cost of the pro-
ject, including transmission facili-
ties, will be in the vicinity of $40O-
OOO, 900. A
Every dollar required to finance
the job is being raised by private
capital. |. Arrangements have al.
ready been completed for the sale
of $3.50, 600, 900 of first mortgage
/ bonds to 20 insurance companies,
seven pension funds, and two saw
ings banks. This is the largest di-
rect placement of single issue Of
securities in history. Moreover, IL
banks and two pension funds are
providing another $6O,OO0,OOO in
| notes.