Hoku reaffirms commitment to Idaho plant

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by Associated Press

KTVB.COM

Posted on August 15, 2009 at 4:34 PM

Updated Wednesday, Oct 14 at 12:27 PM

POCATELLO -- The chief financial officer for Hoku Scientific Inc. says the company will not abandon plans for a $390 million polysilicon plant in eastern Idaho, despite problems raising capital for the project.

Darryl Nakamoto says the company has invested too much time and money into the plant planned for Pocatello to walk away from the project. The company said earlier this month construction of the plant could be delayed.

Hoku is about $106 million short of covering the full cost of the project, and the economic downturn has made it difficult to raise any additional financing.

The plant is projected to produce 4,000 metric tons annually of polysilicon and employ about 200 workers.

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