Making horrible noise and engine shuts off

What is your question?

It has 165000 miles on it, it was sitting for a couple of years before I purchased it. After driving for a month it started making loud noise and stalling. took it to a local mechanic shop and they said engine is gone, has to be replaced. is it possible to trouble shoot all vital parts like transmission, water tank and everything else and restore the car so it will run without giving trouble? How much that kind of work can cost??