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USVI Signs $800M Deal to Sell Shuttered Oil Refinery

The U.S. Virgin Islands has signed an $800 million deal to sell what was once the world's largest oil refinery to a Boston-based equity firm. The government announced Tuesday that it would receive a $220 million upfront payment from ArcLight Capital Partners' Limetree Bay Holdings as part of the 25-year deal that is expected to create hundreds of jobs. Gov. Kenneth Mapp said the HOVENSA oil storage facility in St. Croix would be expanded and a $6 million asphalt plant would...

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