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Journalism of Courage
CHENNAI, March 24: Central government-owned Engineers India Ltd (EIL) has reportedly re-evaluated the composite project cost of the couple of controversial competing projects of fertiliser giant Southern Petrochemical Industries Ltd (Spic) at around Rs 4800 crore.
The EIL cost re-evaluation report will now go the Industrial Credit and Investment Corporation of India (ICICI) for a reappraisal study on the viability of the composite project in the current changed environment. The re-evaluated cost of about Rs 4800 crore implies a cost overrun of over Rs 1000 crore from the cost estimation made by the two Spic outfits for the project from aromatic stage to PTA and PSF et al.
