RE: Is this article a load of rubbish ?6 May 2023 08:52
Having spent the last 38 years working in the chemical industry and being exposed to a multitude of large engineering projects, my gut feeling would be to sell IM.
I've yet to see a project delivered on time and at the originally stated cost. I would factor in at least an additional 20% overspend. This is no small project and will take several years to become operational. When you also factor in interest payments on loans, operational costs, depreciation and so on, it will be around 10 years before IM becomes a fully profitable operation. Then you start to get into the realm of aging plant, new technology upgrades etc.
This is highly technical and potentially hazardous engineering which will require very specialist input from the beginning. It will quite likely fall within the COMAH regs considering the potential, however unlikely of a major incident. A big step up from building ships.