Update: MDA provided this statement to JJ: "Until
the receivership proceedings in Lowndes County Chancery Court are
completed, Mississippi Development Authority is unable to comment."
The Columbus Dispatch scooped everyone and reported that the Kior plant finally sold:
The KiOR plant site in Columbus has been purchased.
Georgia Renewable Power, a company whose work primarily focuses on coal plants and wood chip mills, purchased the struggling biofuel outfit's equipment on The Island on Friday.Cal Garland, a founding partner of Georgia Renewable Power, told The Dispatch this morning his company plans to install a wood chip mill at the site and send the chips to Ireland.Lowndes County Board of Supervisors President Harry Sanders confirmed the sale this morning. He said the 22 acres that KiOR built a biofuel refinery on was not part of the purchase. The land will revert to the Lowndes County Port Authority.The purchase price was not disclosed."I'm not sure what the amount was," Sanders said. "But I do know it's enough to pay what KiOR owes the county, city and the school district, as well as the back taxes and maintenance fees they owed to the Port Authority."Lowndes County tax assessor Greg Andrews said KiOR's debt to the county, city and school district was $1,105,000 as of Oct. 1.KiOR, a Texas-based business, built a $200 million biofuel plant on The Island that was designed to convert wood chips to fuel. The company struggled to make the facility operational, though, and it has not operated since late 2013. ....KiOR owes the state of Mississippi approximately $69 million in loans. MDA officials did not respond to messages seeking comment this morning.Sanders said that initially, Georgia Renewable Power officials said they planned to clear the site on The Island and sell the equipment that remains on the property. ......
Vinod Khosla sued MDA, the Lowndes County Port Authority, Kior Columbus LLC, and other parties in January. Bankrupty trustee Derek Henderson was appointed as receiver for the plant. He obtained permission to sell assets from the court in August. The order is posted below.
Kingfish note: JJ is attempting to find out how much money MDA will receiver from the transaction. The Street Committee is saying the state received much much less than what was owed but that is completely unconfirmed.