Hoku Bankruptcy Hurts Local Businesses

Local

0  Updated at 1:40 pm, August 9th, 2013 By: Managing Editor
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POCATELLO, ID) – Contractors who worked on the now shuttered Hoku plant in Pocatello say they were lured in to provide work under false pretenses. JH Kelly officials tell the Idaho State Journal that Hoku built the plant with the full financial backing of the Chinese government. However, the Chinese dropped its support once the polysilicon company showed signs of faltering finances, leaving contractors unpaid. Hoku currently owes creditors more than $1 billion. The $600 million plant in Pocatello is about 80 percent completed, and is still up for sale.