By P.R. Venkat
SINGAPORE--Sembcorp Industries Ltd. (U96.SG) on Tuesday said that the development of a capital city development project in the southern Indian state of Andhra Pradesh had been terminated.
The project, undertaken by Amaravati Development Partners, a joint venture company established by Sembcorp and CapitaLand, was no longer feasible as originally planned, Sembcorp said in a statement.
The state government of Andhra Pradesh had also mutually agreed to terminate the project, it said.
The project was still in its early stages and costs incurred were limited to design services, amounting to a few million dollars, Sembcorp said.
Closure of the project isn't expected to have a material impact on the earnings-per-share of the company for the current financial year, it said.
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