Higher Bid Placed on Defunct Idaho Plant
POCATELLO, Idaho (AP) — A Washington state-based contractor battling a Chinese company over a defunct $700 million polysilicon plant in eastern Idaho submitted the highest bid for the property at a recent auction.
The Idaho State Journal reports JH Kelly Inc. offered $5.23 million for the Hoku plant in Pocatello, more than a previous offer of $4.78 million. JH Kelly, based in Longview, Wash., is suing Hoku’s Chinese parent company in federal court, alleging Tianwei New Energy Holdings still owes it $25 million for work it did.
The plant was nearly completed but never opened, and now numerous contractors who helped build it have gone to court in a bid to recover their investments — including with allegations Tianwei committed fraud and racketeering by promising to make payments it never intended to make.