Business

Company Says It Offers Better HOVENSA Deal But Was Shut Out Of Bidding Process (Part 1)

In an exclusive telephone interview with VI Consortium on Wednesday, the five principals of Monarch Energy Partners, whose parent company is Woodstown, New Jersey-based Monarch Environmental, Inc., revealed the uphill battle they have faced in their quest to be considered as a viable buyer of the HOVENSA refinery, and say the deal they offer is far better than what Atlantic Basin Refinery (ABR VI) has on the table. According to Monarch Energy, which has more than 100 years of combined experience in the oil refining industry among its partners, the group was formed to address the array of problems brought on by HOVENSA's closing, but also to "enhance the lives of inhabitants of the island." To accomplish this, the company said it planned to bring the refinery back to "full operating capacity in a clean, efficient manner" and to address and correct the environmental issues that were left behind when the refinery closed in February 2012. However, Monarch said it was never given a fai...