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Economy

Auction Set For Defunct Hoku Plant In Southeast Idaho

An auction for the Hoku Materials Plant is set for Oct. 23 and 24 in eastern Idaho.

The Idaho State Journal reports in a story on Friday that San Diego, Calif.-based Heritage Global Partners has been contracted as the seller for the auction.

The company on its website touts global interest in the $600 million facility that can either be purchased by the piece or in its entirety.

Hoku, which filed for bankruptcy protection in July, began building what was supposed to be a $370 million plant in 2007 to make polysilicon material destined to be used in solar panels.

But the plant never opened.

U.S. Bankruptcy Judge Jim Pappas last week issued the order approving the sale.