Hoku Plant Sells for $5.47 Million
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(POCATELLO, ID) – The Hoku plant in Pocatello has been sold for a mere fraction of what it cost to build. J.H. Kelly, the contractor that built the estimated $700 million plant, bought the facility at auction for only $5.47 million. The failure of the Hoku plant has caught international attention, prompting some economic experts to describe it as one of the biggest business debacles in Idaho history. Hoku, which is being sued in federal court, still owes J.H. Kelly $25 million for construction costs.