(Update with additional details on St. Croix Energy)
Nov 14 (Businesshala) – St. Croix Energy LLLP is making a $20 million bid to acquire the closed Lymetree Bay refinery located in the U.S. Virgin Islands, according to a Sunday court filing in Texas bankruptcy court.
The Limetri Bay refinery, which had been closed for nearly a decade, reopened earlier this year under the ownership of two private equity firms. It operated for only a few months before US regulators forced the plant to shut down after residents reported several incidents of breathing problems and emissions from the plant.
According to the filing, the company has been named the horse bidder for the facility and is currently the sole qualified bidder for the plant.
The business, which described itself as “a group of businessmen with deep roots in the Virgin Islands,” said in an October news release that it was committed to safely restarting the refinery.
St. Croix Energy is comprised of industry professionals with decades of experience in the refining, marketing and renewable fuel sectors, the release said. (Reporting by Laura Sainikola; Editing by Tom Hogue)