Hoku Scientific Inc. said contractor JH Kelly LLC would resume construction on Hoku’s planned polysilicon production plant in Idaho.

Hoku said yesterday that it had entered into a change order agreement, under which it would pre-pay $5 million of past amount due to privately held JH Kelly of about $12 million.
Kelly agreed to delay foreclosing on the $12 million lien until after Dec 1, 2009, Hoku said, adding if it made the prepayment by that date, Hoku will have until Jan 14, 2010 to pay the balance.
“Kelly also agreed to waive certain interest and other fees and charges that may be incurred as a result of the past due amounts,” Hoku said in a statement.
The company also said Kelly reaffirmed its commitment to achieve the projects key schedule dates if work resumes in October.