After deducting the initial purchasers' commissions, estimated fees and expenses and incremental interest during construction
related to the SPL 2027 notes, the net proceeds may be used by the company to prepay all of the principal amounts currently outstanding under SPL's credit facilities and pay capital costs in connection with the construction of the first five trains of its natural gas liquefaction facility currently under construction in Cameron Parish, Louisiana.
Add 50% of this cost for interest during construction
and other items and the total grows to $4.6 billion or Rs486 billion.
Add 50 percent of this cost for interest during construction
and other items and the total grows to US$4.6 billion or Rs486 billion.
The cost of the equipment had increased by Rs18 billion, the national financing outlay rose from Rs5 billion to Rs9 billion, IOC (Interest during construction
) jumped from the original Rs5 billion to the revised Rs15 billion whereas the contractor was also paid an additional Rs5 to 6 billion for remobilization.
The sub-committee noted that the existing PC-I of the project had no provision for certain items including interest during construction
The Minister accordingly directed WAPDA to review and develop all-encompassing PC-I including Duties and Taxes, Exchange Loss, Price Escalation, Interest During Construction
Net income growth was also negatively impacted by start-up costs and higher levels of operating expenses in Mexico, Honduras and China, higher levels of depreciation expense and increased interest expense driven by lower levels of capitalized interest during construction