Court Approves Hoku Sale
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(POCATELLO, ID) – A federal bankruptcy judge has approved the sale of the Hoku plant in Pocatello for only $8.3 million. JH Kelly, the contracting company that built the plant, placed the highest bid. The estimated market value of the facility is more than $700 million. A Nevada-based company, JCF Funding, plans to purchase the plant from JH Kelly. JCF will then process silica from mining operations near Arco. Operators believe opening the plant will bring more than 1,000 jobs to the Gate City. JH Kelly must pay all $8.3 million by Friday afternoon, or risk losing their bid.