In quick glance I read the price as "55,000" and I was thinking it was too much for just a water cooler (even whether its indirect one). Then suddenly I realize there is another "5" present in the price and the price is actually "550,000" and I was like WTF? It's just a water cooler, not a car.
I think I can make a medium size version of indirect water cooler (using the fan, motor, body of a lahori cooler along with coagulated board, paper, plastic tubing, plastic layers) for less than a budget of 10k (stretching to include profits too). There is nothing that complicated in it. Just keep a layer of plastic to keep the "cool" air from getting moisture from the water which will cool the air (through evaporation). Not that a difficult design and definitely not worth spending 550,000 when it won't work in monsoon or near sea.