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Time Running Out for KiOR Plant, Over $70 Million Owed to the State

COLUMBUS, Miss.–Time could be running out soon for the KiOR plant in Columbus, which was set up to made fuel out of wood chips and is now in some serious debt. A letter sent out Monday by the Miss. Development Authority means the state could be demanding payment in full for the $70 million the company borrowed.

That’s your tax dollars.

The company missed a deadline to pay Friday and is now in a three-day grace period that ends Wednesday. If they do not pay, it would mean serious trouble between the state and KiOR and could even force the company into bankruptcy, which could mean serious delays in getting the money that is owed.

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