Three conditions need to be fulfilled for capitalizing borrowing cost. They are
(1) Activities to prepare the Qualifying asset for its intended use ARE BEING carried out. AND
(2) Expenditure on such activities IS BEING incurred AND
(3) Borrowing cost IS BEING incurred
In view of the above you cannot capitalize the borrowing cost.
The logic behind this is you still cannot demonstrate that you are in the possession of a resource from which you can expect future economic benefits. Hence you cannot capitalize.