KOLKATA, Feb. 17: The state government plans to recover the huge costs of conducting feasibility studies in Nayachar Island from its potential investors. But the funds have to come from its own coffers for the time being. The proposed chemical hub would require extensive studies such as geographic mapping, geological and geophysical as well as oceanographic studies and environment impact assessment to get clearance. The expert committee set up by the state government, which met for the first time in January, had said these study reports should be enclosed during the preparation of detailed feasibility reports (DFRs) for each proposed investment. It was also decided that Jadavpur University, as the nodal university, would constitute multi-disciplinary teams with other academic and research institutions for conducting these studies. But with proposed investments running into thousands of crore of rupees it was suggested by the committee that these studies should be endorsed by "global consultants of repute' so the DFRs are readily accepted during financial closures of huge investments. The newly formed joint venture company Acharya Prafulla Chandra Ray Petro-chemicals Private Limited between West Bengal Industrial Development Corporation and New Kolkata International Development (NKID), a consortium of Salim group, Universal Success and Unitech has already engaged Jurong Town Corporation as one such consultant. However, Mr Prasun Mukherjee of Universal Success said "The new company would bear the cost of conducting feasibility studies by Jurong.' The expert committee has recommended that all such cost should be recovered from potential investors but till then state government should provide such funding directly or through a nominated agency although it has not detailed the project costs. Incidentally, the project is yet to receive clearance from the Centre, although the state government has handed over the land to the new company. The state government must be keeping its fingers crossed, so the rising cost of turning Nayachar Island into a suitable location for setting up a chemical hub may not prove to be an albatross around its neck.